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Gold rates in Pakistan have slightly decreased as dealers continue to offer discounts

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Gold rates in Pakistan have slightly decreased as dealers continue to offer discounts

The price of gold in Pakistan posted a marginal decline on Tuesday, marking its second consecutive decrease. According to data issued by the Karachi Sarafa Association, the price of 24-carat gold fell by Rs. 100 per tola to Rs. 245,000, while the price of 10 grams fell by Rs. 86 to Rs. 210,048.

The Sarafa Association indicated that the price of gold has been kept under cost by Rs. 2,200 due to the reduction in the purchasing power of buyers. This reflects a cut of Rs. 1,300 from yesterday’s discount of Rs. 3,500. It is noteworthy that after increasing by Rs. 4,700 per tola during the last week, the price of the precious metal fell by Rs. 1,300 per tola on Monday. In the international market, spot gold climbed 0.2 percent to $2,363.69 per ounce as of 0944 GMT, while US gold futures rose 0.3 percent to $2,370.80.