Gold Price in Pakistan Increases by Nearly Rs. 2,500 Per Tola

The price of gold in Pakistan posted an increase of Rs. 2,400 per tola on Wednesday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 2,400 per tola to Rs. 242,700, while the price of 10 grams increased by Rs. 2,058 to Rs. 208,076. The price of gold in the local market rose by Rs. 800 per tola on Monday before declining by Rs. 500 per tola yesterday. Last week, the price of the precious metal had plummeted by over Rs. 8,000 per tola. Currently, gold is trading at Rs. 10,000 per tola below the all-time high of over Rs. 253,000 per tola achieved earlier this month. In the international market, spot gold was down 0.8 percent to $2,342.50 per ounce by 0919 GMT, while the US gold futures fell by 0.6 percent to $2,342.90.