Gold price declines by Rs5,300 per tola

Karachi: The gold price declined by Rs5,300 per tola in the local market on Thursday.

The price of gold per ounce in the international market increased by $5 to $1978, while in Pakistan, the price of gold per tola dropped by Rs5,300 and the price of gold per 10 grams fell by Rs4,544.

Due to the hefty fall in prices, the price of gold per tola in the local exchange markets was Rs221,100 and the price of gold per 10 grams was Rs189,558.

It should be noted that during the last three days of this business week, a rise of Rs13,200 was recorded in the gold prices.

A day earlier, the price of gold in Pakistan experienced a surge following the upward trend in the international market on Wednesday.

According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs5,400 per tola and Rs4,630 per 10 grams to settle at Rs226,400 and Rs194,102 respectively.