Gold Price in Pakistan Drops Slightly But Remains Near Rs. 250,000 Per Tola

The price of gold in Pakistan declined marginally on Wednesday to close at Rs. 248,200 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) dropped by Rs. 300 per tola to Rs. 248,200, while the price of 10 grams fell by Rs. 236 to Rs. 212,791. The Sarafa Association said in a brief statement that the price of gold has been kept under cost by Rs. 4,000 considering the significant reduction in purchasing power of the public. The price of the precious metal had begun the new week with an increase of Rs. 2,300 per tola on Monday, however, the price fell by Rs. 1,900 per tola yesterday after international prices declined. In the international market, spot gold slipped by 0.3 percent to $2,413.96 per ounce as of 1127 GMT.