The price of gold in Pakistan fell slightly on Wednesday, closing at Rs. 248,200 a tola.
Karachi Sarafa Association
According to figures released by the Karachi Sarafa Association, the price of gold (24 carats) declined by Rs. 300 per tola to Rs. 248,200, while the price of 10 grammes fell by Rs. 236 to Rs. 212,791.
Fall in Purchasing Power
The Sarafa Association noted in a brief statement that the price of gold has been kept below cost by Rs. 4,000 due to the public’s severe fall in purchasing power.
The price of the precious metal rose by Rs. 2,300 per tola on Monday, but decreased by Rs. 1,900 per tola yesterday as international prices fell.
As of 1127 GMT, spot gold was down 0.3 percent to $2,413.96 per ounce on the international markets.
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