Gold Rate in Pakistan Falls Slightly as Dealers Maintain Discount

The price of gold in Pakistan posted a marginal decline on Tuesday, its second in two days. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 100 per tola to Rs. 245,000, while the price of 10 grams fell by Rs. 86 to Rs. 210,048. The Sarafa Association said that the price of gold has been kept under cost by Rs. 2,200 due to the reduction in purchasing power of the buyers. A cut of Rs. 1,300 from yesterday’s discount of Rs. 3,500. It is pertinent to mention here that after going up by Rs. 4,700 per tola during the last week, the price of the precious metal fell by Rs. 1,300 per tola on Monday. In the international market, spot gold climbed 0.2 percent to $2,363.69 per ounce as of 0944 GMT, while the US gold futures rose 0.3 percent to $2,370.80.