Gold Price in Pakistan Posts Big Increase as International Prices Hit Three-Month Peak

The price of gold in Pakistan registered its fifth consecutive increase on Tuesday to settle at Rs. 223,900 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) went up by Rs. 2,700 per tola to Rs. 223,900, while the price of 10 grams increased by Rs. 2,315 to Rs. 191,958. Last week, the price of the precious metal in the local market increased by Rs. 5,200 per tola, while the price of 10 grams rose by Rs. 4,458 per tola. On Monday, the price of gold rose by Rs. 900 per tola in the domestic market. In the international market, gold prices steadied near a three-month peak on Tuesday with spot gold unchanged at $2,114.59 per ounce as of 0423 GMT, while the US gold futures were down 0.2 percent to $2,121.60.