Gold Price in Pakistan Rises Marginally After Yesterday’s Massive Decline

The price of gold in Pakistan rose marginally on Thursday after a huge decline a day earlier to settle at Rs. 211,100 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 300 per tola to Rs. 211,100 while the price of 10 grams increased by Rs. 257 to Rs. 180,984. The price of the precious metal remained unchanged on Monday and Tuesday as there was little movement in international prices but plummeted by Rs. 3,500 per tola yesterday after international prices declined after a stronger-than-expected US inflation report. Spot gold was flat at $1,992.33 per ounce as of 0706 GMT in the international market today, while the US gold futures were also flat at $2,004.20 per ounce.