Gold Price Rises in Pakistan as Dealers Offer Discount

The price of gold in Pakistan registered an increase of Rs 1,000 per tola on Friday.

According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 1,000 per tola to hit Rs. 256,600, while the price of 10 grams was up by Rs. 857 to Rs. 219,907.

The Association said that the price of the precious metal has been kept under cost by Rs. 2,000 per tola compared to the international market.

If the discount wasn’t offered, the price of gold would have breached the current all-time high level of Rs. 257,300 per tola.

In the international market, spot gold was down 0.1 percent to $2,422.99 per ounce as of 1351 GMT, while the US gold futures were unchanged at $2,462.