Gold Rate in Pakistan Falls After Seven-Day Record-Breaking Run

The price of gold in Pakistan eased on Thursday after a record-breaking run that saw it surge to over Rs. 285,000 per tola.  According to data issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold (24 carats) fell by Rs. 2,300 per tola to Rs. 283,100, while the price of 10 grams was down by Rs. 1,971 to Rs. 242,713.   The price of the precious metal stood at Rs. 275,000 on October 15 and rose by over Rs. 10,000 per tola in the next seven sessions, going to an all-time high level of Rs. 285,400 on October 23.  In the international market, spot gold was up 0.7 percent to $2,735.26 per ounce by 0740 GMT, just below the record high of $2,758.37 hit on Wednesday. U.S. gold futures were up 0.7 percent to $2,747.90.