Gold Price in Pakistan Falls for Second Straight Day as International Prices Ease

The price of gold in Pakistan fell for the second straight day on Wednesday to settle at Rs. 240,600 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 900 per tola to Rs. 240,600, while the price of 10 grams went down by 771 to Rs. 206,276. Yesterday, the price of gold in the local market fell by Rs. 500 per tola. The Sarafa Association once again said that the price of gold has been kept under cost by Rs. 1,500 due to the reduction in purchasing power of the buyers. In the international market, spot gold went down 0.1 percent to $2,317.86 per ounce by 0944 GMT, while the US gold futures were down 0.1 percent to $2,329.60.