Gold Price in Pakistan Rises With Sarafa Association Further Enhancing Discount

The price of gold in Pakistan posted an increase of Rs. 1,600 per tola on Friday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 1,600 per tola to Rs. 242,900, while the price of 10 grams went up by 1,372 to Rs. 208,248. The Sarafa Association said that the price of gold has been kept under cost by Rs. 4,500 due to the reduction in purchasing power of the buyers. This is the highest discount the association has offered in recent weeks, previously the highest discount offered by the association was Rs. 4,000 per tola. In the international market, gold prices were set for their second straight weekly gain today as demand strengthened amid expectations around interest rates from the US Federal Reserve.