Gold Price in Pakistan Posts Slight Increase After Yesterday’s Drop

The price of gold in Pakistan rose slightly on Friday after posting a decline a day earlier. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 400 per tola to Rs. 214,200 while the price of 10 grams saw an increase of Rs. 342 to Rs. 183,642. The price of gold in the local market fell by Rs. 600 per tola on Monday but recovered most of the losses on Tuesday as it rose by Rs. 500 per tola. There was no change in the price of the precious metal on Wednesday while Thursday saw gold dip by Rs. 1,400 per tola. In the international market, gold prices were set for their second straight weekly fall. On Friday, spot gold stood at $2,021.28 per ounce by 0415 GMT, while the US gold futures saw an increase of 0.2% to $2,021.20. However, both have lost 0.4 percent so far this week.