The price of gold in Pakistan fell slightly on Friday after surging to a record high a day earlier.
According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 900 per tola to Rs. 240,200, while the price of 10 grams went down by Rs. 772 to Rs. 205,932.
A day earlier, the price of the precious metal in the country surged to an all-time high of Rs. 241,100 per tola. The surge in gold price, primarily since the start of March, is mainly down to an increase in international gold prices.
Gold broke above $2,300 per ounce in the international market on Thursday and according to Juerg Kiener, chief investment officer at Swiss Asia Capital, it could hit $2,600 within a year.
