Gold Price in Pakistan Drops Slightly After Big Decline Last Week

The price of gold in Pakistan fell by Rs. 500 per tola on Monday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 500 per tola to Rs. 243,900, while the price of 10 grams fell to Rs. 209,105. Last week, the price of the precious metal dropped by Rs. 7,800 per tola in the local market to close at Rs. 244,400. The decrease in price was due to falling international prices that declined following easing tensions in the Middle East. Gold prices also declined in the international market today with spot gold down 0.3 percent to $2,328.20 per ounce as of 0112 GMT, while the US gold futures fell 0.3 percent to $2,339.70 per ounce.