ISLAMABAD: The price of gold, a precious metal, has continued its downward trend in the local market for the sixth consecutive day.
On Friday, the price of 24 karat gold witnessed a decrease of Rs1,700, settling at Rs2,17000 per tola, compared to Rs218,500 the previous day.
According to the All-Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of 24 karat gold also declined by Rs1,285, settling at Rs186,043.
In the international market, the price of gold also experienced a decline of $10 per ounce, settling at $1,919.
However, the price of silver remained unchanged, with the white plate per tola and 10 grams priced at Rs 2,550 and Rs 2,186.21 respectively.
Fluctuation in Gold Price in Pakistan
The price of precious metals in Pakistan has witnessed continuous fluctuations, particularly with an upward trend from January to May of this year.
In early May, gold prices reached a historic high of Rs 2,40,000 per tola. However, starting from the beginning of the current month, gold prices have sharply declined, with a decrease of over Rs 20,000 per tola to date.
A further decline in the price of gold would undoubtedly provide relief to end users.
