Gold Price in Pakistan Falls After Successive Gains

After going up by Rs. 4,500 per tola over the last two days, the price of gold in Pakistan fell by Rs. 600 per tola on Friday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 600 per tola to Rs. 245,000, while the price of 10 grams went down by Rs. 514 to Rs. 210,048. 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 gold in Pakistan fell by Rs. 2,400 per tola on the opening two days of the current week. However, gold rebounded and gained Rs. 4,500 per tola in the following two days. Cumulatively, the price of the precious metal has risen by Rs. 1,500 per tola during the current week despite today’s decline.