Gold Price Stable in Pakistan After Yesterday’s Surge

After rising by nearly Rs. 2,500 per tola on Thursday, the price of gold in Pakistan remained unchanged on Friday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) remained unchanged at Rs. 240,600, while the price of 10 grams was Rs. 208,333. The Sarafa Association said that the price of gold has been kept under cost by Rs. 4,000 due to the reduction in purchasing power of the buyers. The price of gold in the local market remained unchanged on Monday before going up by Rs. 700 per tola on Tuesday. On Wednesday, the price fell by Rs. 400 per tola but on Thursday gold soared by Rs. 2,400 per tola. In the international market, spot gold was down 1.8 percent to $2,333.69 per ounce as of 1123 GMT.