ISLAMABAD: The gold’s upward journey still continues as its price went down for one day, but the next day it shot up to an even higher level of its previous higher range.
On the last working day of the weekend, gold price witnessed a slight decline, but today it went up over Rs 1000 in one day. On Monday, per tola price of 24 karats of gold increased by Rs 1100 and was sold at Rs 217,100 against its sale at Rs 216,000 the previous day, All Sindh Sarafa Jewellers Association reported.
Meanwhile, the price of 10 grams of 24 karats of gold also increased by Rs 943 to Rs 186,128 from Rs 185,185, whereas that of 10 grams of 22 karats of gold went up to Rs 170,618 from Rs 169,753.
The price of per tola silver dipped by Rs 40 to close at Rs 2530, and that of ten-gram silver also decreased by Rs 33.36 to close at Rs 2170.
Gold Price in International Market
Like the domestic market, the price of gold in the international market also witnessed appreciation. The price of gold in the international market rose by US$ 05 to $2008 compared to its sale at $2003, the association reported.
Economists believe that due to the ongoing poor economic situation and devaluation of the Pakistani rupee against the dollar, investors are inclined towards gold. That is why the price of gold remained higher during the last couple of months.
