Gold price goes bit down amid prevailing economic situation

Karachi: Gold prices in Pakistan decreased by Rs200 per tola and Rs172 per 10 grams to settle at Rs24, 30 and Rs175, 154 respectively.

The latest reports suggested that no major change took place in the price of the yellow metal in the local markets as mostly the investors stayed away from their deals amid prevailing economic situation.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) also confirmed the development, saying that there was a slight change in the price.

“The price of gold (24 carats) decreased by Rs200 per tola to settle at Rs204,300,” said the traders, pointing out that Rs172 was the decrease per 10 grams to close at Rs175,154,

On Friday, the price of per tola gold went down by Rs4,000 per tola as the relevant markets were mostly bullish last week.

On other hand, the gold price regained some ground in the international market as investment focused it after its price went down last month.

Spot gold rose $5 to $1,870 per ounce, after hitting its lowest level since January 6.