Gold Price in Pakistan Remains Unchanged for Second Straight Day

The price of gold remained unchanged for the second consecutive day on Tuesday owing to little movement in the international prices. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) stood at Rs. 214,300 while the price of 10 grams stood at Rs. 183,728 on Monday. Last week, the price of the precious metal went down by Rs. 1,700 per tola. The decline was largely down to a downward trend in the international market. In the international market, spot gold was flat at $2,018.71 per ounce as of 0424 GMT, while the US gold futures were largely unchanged at $2,032.30 per ounce. The prices in the international market are stable as investors hold back from making any moves ahead of a US inflation report that could provide better perspective on the timing of the Federal Reserve’s first rate cut.