ISLAMABAD: After enjoying a downward trend for one and a half months, followed by a sharp increase for 5 days, the rates of the precious metal took a stopover to come down again as on Thursday the per tola price of 24 karats of gold went down by Rs 5,300 and was available in the market at Rs 221,100 against Rs 226,400 last day.
Meanwhile, according to the All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karats of gold also decreased by Rs4,544 to Rs 189,558 from Rs 194,102 last day, whereas the price of 10 grams of 22 karats of gold witnessed a decline to Rs 173,761 from Rs 177,926..
However, The price of per tola and 10-gram white plate (silver) remained unchanged to close at Rs 2900 and Rs 2485.28 respectively.
Interestingly and unlike the local market, the price of the precious metal in the international market went up by $05 to settle at $1,978 per ounce from $1973, the last day.
Gold Price in Pakistan
Gold prices remained volatile in Pakistan for the last several months. In May its price reached the highest ever Rs 2,40,000 per tola as its downfall began in June to reach Rs 2,04500 in mid-July followed by a sharp increase during the last 4 to 5 days. However on Thursday with a surprise (probably due to low trade in Muharram), and unlikely the international market and devaluation of local currency against the dollar, the gold price in the local market went down significantly.
