ISLAMABAD: After continues going for the last two weeks for over Rs14,000 per tola, the price of 24 karats of gold finally took a stopover to go up by Rs1,700 and settled at Rs220,700 on Thursday against its sale at Rs219,000 last day.
During the last few days, the price of the precious metal was coming down at an average of about Rs2,000 and reached Rs219,000 per tola.
According to All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karats of gold also went down by Rs 1,458 to Rs 189,215 from Rs187,757 while the price of 10 grams of 22 karats of gold decreased to Rs 173,447 from Rs 172,111,
The price of per tola and ten-gram silver witnessed no change and settled at Rs 2550 and Rs 2,186.21 respectively.
Unlike the local market, the price of the yellow plate in the international market went down by US$ 19 to $1929 against its sale at $1948, the association reported.
Fluctuation in Gold Price in Local Market
It is worth noting that the local bullion market, after reaching a record high of Rs 2,40,000 in May turned back in the subsequent days, particularly in June. The last few days in June experienced a total decline of more than Rs 14,000 in the price of gold in the local market. Some days even witnessed a decline, despite the increase in the international market. However on Monday despite a decrease in the international market, the price of gold went up, which might be due to the meager depreciation of local currency against the US dollar.
