Gold Rate in Pakistan Goes up Slightly as International Prices Rebound

The price of gold in Pakistan rose by Rs. 1,000 per tola on Friday, a day after posting a decline of Rs. 2,300 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 1,000 per tola to Rs. 251,500, while the price of 10 grams rose by Rs. 858 to Rs. 215,621. The price of the precious metal also rose in the international market with spot gold up 0.3 percent to $2,370.5 per ounce by 1110 GMT.  It is pertinent to mention here that the international gold prices are down 4.5 percent since they hit a record high of $2,483.60 on July 17. In the local market, the price of the precious metal rose by Rs. 4,600 per tola to clock in at an all-time high of Rs. 254,000 during the last week.