Rise in Gold Price After two days of fall

Hi Everyone! I hope you are all doing well. Welcome back to another blog. In this blog, we will discuss Rise in Gold Price After two days of fall. After experiencing a decline for two consecutive days, the price of gold in Pakistan witnessed an upward surge on Wednesday, ultimately settling at Rs. 234,400.

According to the latest data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), there has been a significant change in the price of gold. The price of 24-carat gold has experienced an upward trend, surging by Rs. 1,600 per tola, resulting in a closing price of Rs. 234,400.

On the other hand, the price of 10 grams of gold witnessed a decline of Rs. 1,372, settling at Rs. 200,960. These fluctuations indicate notable shifts in the gold market, reflecting both increased and decreased prices for different measurement units.

The price of gold went down by Rs. 3,400 per tola in the first two sessions of the week. It decreased by Rs. 1,700 per tola on both Monday and Tuesday. Today, the price of gold increased, which means that, in total, it is down by Rs. 1,800 per tola since the beginning of the week. In May, the price of gold rose by Rs. 14,900 per tola, which is a significantly larger increase compared to the past two months.

In the global market, prices for spot gold remained stable at $1,958.69 per ounce by 1123 GMT, while US gold futures held steady at $1,976.30. It is important to note that gold experienced a decline of approximately 1.6 percent in May.

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