Gold Price in Pakistan Falls Again as Mixed Week Continues

After going up a day earlier, the price of gold in Pakistan fell by Rs. 1,500 per tola on Thursday.

According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) dropped by Rs. 1,500 per tola to Rs. 241,200, while the price of 10 grams fell by Rs. 1,286 to Rs. 206,790.

The Sarafa Association said in a brief statement that the price of gold has been kept under cost by Rs. 3,000 considering the reduction in purchasing power of the buyers.

Gold rates in the local market have a mixed week so far with the price going up by Rs. 800 per tola on Monday before declining by Rs. 500 per tola on Tuesday. While Wednesday saw the price surge by Rs. 2,400 per tola.

In the international market, gold prices were muted on Thursday as the market waited on key US economic data that could give an idea about the Federal Reserve’s interest rate move.

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