Gold Price in Pakistan Drops for Second Consecutive Day as International Prices Decline

The price of gold in Pakistan decreased for the second consecutive day on Wednesday, settling at Rs. 240,600 per tola.

According to the Karachi Sarafa Association, the price of 24-carat gold dropped by Rs. 900 per tola to Rs. 240,600, while the price for 10 grams decreased by Rs. 771 to Rs. 206,276.

The previous day, gold prices in the local market had fallen by Rs. 500 per tola. The Sarafa Association reiterated that gold prices have been kept Rs. 1,500 below the cost due to the reduced purchasing power of consumers.

In the international market, spot gold fell by 0.1 percent to $2,317.86 per ounce by 0944 GMT, while US gold futures also declined by 0.1 percent to $2,329.60 per ounce.