Gold Price in Pakistan Nudges Up Slightly

The price of gold in Pakistan rose by Rs. 500 per tola on Monday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 500 per tola to Rs. 242,000, while the price of 10 grams went up by 429 to Rs. 207,476. The Sarafa Association 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. Last week, gold was kept under cost by up to Rs. 4,500 per tola. In the international market, the price of spot gold was up 0.4 percent to $2,330.56 per ounce as of 0834 GMT, while the US gold futures increased by 0.5 percent to $2,343.30.