Gold Price in Pakistan Set for Weekly Decline After Major Gains Last Week

The price of gold in Pakistan remained unchanged on Friday and is set to end the week with a decline, barring a major change on Saturday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) stood at Rs. 228,550, while the price of 10 grams stood at Rs. 195,945. The price of gold was unchanged on Monday while it declined by Rs. 100 per tola on Tuesday. Wednesday saw the price fall by Rs. 1,800 per tola before a slight increase of Rs. 250 per tola on Thursday. Cumulatively, the price of gold has fallen by Rs. 1,650 per tola. The decline in price during the current week, in sharp contrast with previous weeks’ surge of Rs. 9,900 per tola, is mainly down to a downward trend in international prices which are also set for a first weekly dip in four.