After posting an increase of Rs. 2,300 per tola on Wednesday, the price of gold fell by the same amount on Thursday.
According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 2,300 per tola to Rs. 250,500, while the price of 10 grams fell by Rs. 1,972 to Rs. 214,763.
In the international market, spot gold was down 1 percent to $2,372.74 per ounce by 0725 GMT, while the US gold futures fell by 2.1 percent to $2,366.00.
It is pertinent to mention here that last week, 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 in the local market.
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