Gold Price in Pakistan Increases Once Again

The price of gold in Pakistan posted another increase on Tuesday to cross the Rs. 216,000 per tola mark. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 700 per tola to Rs. 216,100 while the price of 10 grams saw an increase of Rs. 600 to Rs. 185,271. On Monday, the price of gold (24 carats) rose by Rs. 1,500 per tola, while the price of 10 grams saw an increase of Rs. 1,286. Despite some day-on-day increases, the price of gold in the local market has declined in the last four weeks due to a decline in international prices. Last week, gold prices dropped by Rs. 1,400 per tola. In the international market, gold prices were in a tight range today as traders awaited the US central bank’s decision on key policy rates. Spot gold was unchanged at $2,032.15 per ounce by 0419 GMT, while the US gold futures saw an increase of 0.3 percent to $2,031.00.