Gold Price in Pakistan Increases for Third Time This Week

The price of gold in Pakistan rose for the third time during the current week to settle at Rs. 216,300 per tola on Thursday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 800 per tola to Rs. 216,300 while the price of 10 grams increased by Rs. 686 to Rs. 185,442. The price of gold had increased on the opening two days of the new week, witnessing an increase of Rs. 1,500 per tola on Monday and Rs. 700 per tola on Tuesday. However, Wednesday saw the price dip by Rs. 600 per tola. In January, the price of gold fell by Rs. 4,500 per tola, the decline was largely due to a fall in international gold prices and the strengthening of the Pakistani Rupee against the US Dollar.