Gold Price in Pakistan Rises After 3-Day Losing Streak

The price of gold in Pakistan rose on Friday after three straight declines to settle at Rs. 215,000 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 1,300 per tola to Rs. 215,000 while the price of 10 grams rose by Rs. 1,115 to Rs. 184,328. The price of the precious metal increased by Rs. 450 per tola on Monday before posting a decline of Rs. 600 per tola on Tuesday. Wednesday saw the price of gold dip by Rs. 2,000 per tola followed by a loss of Rs 1,600 per tola on Thursday. Cumulatively, the price of gold has decreased by Rs. 2,450 per tola during the current week. In the international market, spot gold was up 0.3 percent to $2,028.97 per ounce by 0956 GMT, while the US gold futures increased 0.5 percent to $2,031.30.