Gold Price in Pakistan Dips After Hitting Record High Last Week

After surging to an all-time high last week, the price of gold in Pakistan dropped slightly on Monday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 300 per tola to hit Rs. 256,500, while the price of 10 grams was down by Rs. 258 to Rs. 219,907. Last Friday, the price of the precious metal in the local market hit an all-time high of Rs. 257,300. However, the price declined the following day. In the international market, spot gold was down 2 percent to $2,393.66 an ounce by 1139 GMT, while the US gold futures were down 1.4 percent to $2,434.10.