Gold Price in Pakistan Extends Losing Streak After Fourth Drop This Week

The price of gold in Pakistan dropped for the fourth time this week on Friday to settle at Rs. 239,600 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 1,400 per tola to Rs. 239,600, while the price of 10 grams registered a decrease of Rs. 1,201 to Rs. 205,418. The price of gold fell by Rs. 500 per tola on Monday before falling by another Rs. 2,000 per tola on Tuesday. Thursday saw the price slip by another Rs. 900 per tola. Today’s decline means that cumulatively the price of gold has fallen by Rs. 4,800 per tola during the current week so far. In the international market, spot gold was almost unchanged at $2,302.51 per ounce as of 0046 GMT. However, prices have fallen more than 1 percent this week.