According to the data compiled by the All Sindh Saraf and Jewelers Association, the prices of gold fell by 600 rupees on Saturday and the new price for a tola gold is Rs67,100.
The gold price remained same at Rs67,500 per tola through most of the week on account of the New Year holidays in the United States. It went up by Rs200 on Friday before falling back to its current level the next day.
The prices compiled by the ASSJA come with a lag of a day after changes in international prices. Pakistani traders adjust gold prices based on price movements in the international market and fluctuation in the dollar rates as well as market forces of demand and supply.
Gold usually goes up when the dollar falls as investors move away from dollar-backed funds to gold and vice versa.