Gold is a valuable metal that people use for jewelry and investments. Its price can go up and down based on different factors. Right now, the price of gold has gone down a bit. This means that if you were to buy a tola of gold, it would cost you Rs. 233,000.
Details from the All-Pakistan Sarafa Gems and Jewellers Association
The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) has provided information about this price change. The price of 24-carat gold has decreased by Rs. 1,500 per tola, making it Rs. 233,000. Similarly, the cost of 10 grams of gold has gone down by Rs. 1,286 to Rs. 199,760.
Recent Trends in Gold Price
Just a few days ago, on Friday, the price per tola had reached over Rs. 235,000. However, it decreased by Rs. 1,000 on Saturday and dropped further on Monday. Despite this, there was an overall increase of Rs. 7,700 per tola in the past week.
Factors Behind the Price Change
The value of gold in Pakistan has risen in the past two weeks. This is connected to the Pakistani rupee losing value against the US dollar. The price of gold had gone down to Rs. 204,000 per tola on July 12, but it’s now nearing its previous peak of Rs. 240,000 per tola, which was recorded on May 10.
Global Gold Market
In the international market, the price of spot gold has remained stable at $1,913.99 per ounce. Meanwhile, US gold futures have seen a slight increase of 0.1 percent, reaching $1,941.10.
To sum it up, the price of gold in Pakistan has decreased to Rs. 233,000 per tola due to various factors, including changes in currency values. This information is valuable for those interested in buying or selling gold, as it helps them make informed decisions.
