ISLAMABAD: On Tuesday, gold in Pakistan decreased for the third consecutive day as it took cues from the reduction in global prices. The price of gold fell by Rs500 per tola to Rs358,300.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold fell by Rs429 to Rs307,184.
The decrease in price follows the massive reduction of Rs3,600 per tola on Monday when gold price closed in the domestic market at Rs358,800. There was a similar decrease outwardly. APGJSA revealed the global price at $3,356 per ounce, which includes the $20 premium, down $5.
Notably, the price of silver remained static, with the price of one tola at Rs 4,013 in the domestic market.
The steep fall on Monday
On Monday, gold saw a massive fall of Rs3,600 per tola, and that move corresponded to the weakness seen in the international bullion markets. The price of gold for 10-gram fell by Rs3,086 to Rs307,613.
Prices internationally were at $3,361, which included the $20 premium, down by $36 on Monday from the prior close. There was also a small movement down from silver, that day as well, as it fell by Rs51 per tola to Rs4,013.
The swings continued from the previous week, with it opening on Monday at Rs359,500, closing on Monday with a fall to Rs358,000, and continuing down to Rs362,400.
