The price of Gold in Pakistan fell slightly on Tuesday but remained above Rs. 209,000 per tola.

According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) fell by Rs. 400 per tola to Rs. 209,200 while the price of 10 grams dropped by Rs. 343 to Rs. 179,355.

In the international market today, spot gold was down 0.6 percent to $1,960.50 per ounce by 1218 GMT, while the US gold futures fell by 0.8 percent to $1,971.80.

Yesterday, the price of gold (24 carats) increased by Rs. 1,250 per tola while the price of 10 grams rose by Rs. 1,072 in the domestic market.

It is pertinent to mention here that gold traders in Pakistan have adopted a new pricing formula under which a premium of $20 will be charged on international prices, and for the calculation of price interbank rate of the US dollar will be used. This is likely to ensure uniformity in prices across the country.