Gold Price in Pakistan Posts Marginal Increase as International Prices Remain Flat

The price of gold in Pakistan fell marginally on Friday to settle at Rs. 241,700 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 500 per tola to Rs. 241,700, while the price of 10 grams posted an increase of Rs. 429 to Rs. 207,219. 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 price in the local market increased by Rs. 800 per tola on Monday before declining by Rs. 500 per tola on Tuesday. Wednesday saw the price surge by Rs. 2,400 per tola which was followed by a drop of Rs. 1,500 per tola on Thursday. In the international market, gold prices were flat today as investors awaited the inflation report which can influence the outlook on US interest rates.