Gold Price in Pakistan Falls as Middle East Tensions Ease

The price of gold in Pakistan fell by Rs. 3,500 per tola on Monday as geopolitical tensions in the Middle East eased. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) decreased by Rs. 3,500 per tola to Rs. 248,700, while the price of 10 grams registered a decline of Rs. 3,021 to Rs. 213,220. Last week, the price of gold rose by Rs. 4,600 per tola to close at Rs. 252,000 per tola, an all-time high. Gold prices also fell in the international market today as fears of a wider Middle East conflict eased. Spot gold fell 1.2 percent to $2,362.09 per ounce as of 0929 GMT, while the US gold futures also went down 1.6 percent to $2,376.10. Source: Pro Pakistani