Gold Price in Pakistan Falls Despite Increase in International Market

After holding its ground a day earlier, the price of gold in Pakistan stumbled on Thursday to settle at Rs. 213,800 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. 213,800 while the price of 10 grams dropped by Rs. 1,200 to Rs. 183,400. The price of gold in the local market fell by Rs. 600 per tola on Monday but recovered most of the losses on Tuesday as it rose by Rs. 500 per tola. There was no change in the price of the precious metal on Wednesday. In the international market, spot gold was up 0.2 percent to $2,015.83 per ounce by 0424 GMT, while the US gold futures were unchanged at $2,015.80.