ISLAMABAD: After continuous but slight appreciation in the local currency against the American dollar and a decrease of the precious metal in the international market, the gold price recorded a further decline for the second consecutive day on Friday. At the closing of the trade per tola price of 24 karats of gold went down by Rs 250 and was available at Rs 235,750 against its sale at Rs 236,000 on Thursday.
According to All Sindh Sarafa Jewellers Association prices of the 10 grams of 24 and 22 karats also went down and decreased to Rs 202,118 from Rs 202, 332 and to Rs 185,275 from Rs 185,471 respectively.
Unlike the yellow metal, the price of per tola and ten-gram white metal remained unchanged and were settled at Rs 2900 and Rs 2486.28 respectively.
Gold Price in International Market
Like the local market, the yellow metal also observed a decline in the international market and witnessed a decline by $ 9 to $1952 against $1961 on Thursday.
During the second week of this month, the local market witnessed a historic high of Rs 2,40,000 per tola due to many reasons. Some major causes included the rapid increase of precious metals in the international market and the downfall of the local currency against the dollar. Meanwhile, the ongoing financial uncertainty would still fluctuate the prices in the local market.
