Gold prices fell by Rs 600 on Saturday and one tola is worth Rs67,100, according to data gathered by the All Sindh Saraf and Jewelers Association.
In account of the New Year holidays in the US, the price of one Tola remained unchanged at 67,500. It appreciated by Rs 200 on Friday last week before it finally fell by Rupees 600 on Saturday.
The price is compiled by All Sindh Saraf and Jewellery Association (ASSJA) come a day after the international prices of gold are reduced.
Gold prices hit its highest level of Rupees 68,000 in the last week. The prices are greatly fluctuating in the International Market depending on the dollar rate and demand and supply. Gold usually goes up as the dollar falls .
Looking into the surge in prices of gold, only three-four reasons contribute such as rupee depreciation, international price and local demand has been driving the gold rates up.
Gold prices increased by 20% in the year 2018.