LAHORE MIRROR — The price of gold in Pakistan has experienced a dramatic decline, marking the sixth consecutive day of decreases during the past week. As of Saturday, the closing price of gold per tola stood at Rs. 212,000.
Data provided by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reveals that the cost of 24-carat gold plummeted by Rs. 500 per tola, reaching the aforementioned value of Rs. 212,000. Furthermore, the price of 10 grams of gold saw a decline of Rs. 428, concluding the week at Rs. 181,756.
The downward trend in gold prices commenced on Monday with a slight dip of Rs. 700 per tola. Subsequently, the price drops intensified, with staggering reductions of Rs. 6,300, Rs. 10,500, Rs. 5,800, and Rs. 4,000 per tola observed on Tuesday, Wednesday, Thursday, and Friday, respectively.
In total, the price of this precious metal witnessed an unprecedented decrease of Rs. 27,800 per tola throughout the past week. This substantial decline can primarily be attributed to the depreciation of the US dollar’s open market rate during the same period.
