Gold Rate in Pakistan Stable on First Day of New Week

The price of gold in Pakistan remained stable on the opening day of the new week. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 200 per tola to Rs. 252,700, while the price of 10 grams stood at Rs. 216,650. It is pertinent to mention here that the price of the precious metal hit its all-time high of Rs. 254,000 on July 18. However, since hitting a record high, the price of gold has subsided. The price of gold in the country largely depends on just two factors i.e. the international gold prices and the exchange rate. Since the Pakistani rupee has been stable against the US dollar in recent months, the price fluctuation is being driven by international prices.