The price of gold in Pakistan fell by Rs. 1,900 per tola on Tuesday to dip below the Rs. 250,000 per tola level.
According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) dropped by Rs. 1,900 per tola to Rs. 248,500, while the price of 10 grams fell by Rs. 1,630 to Rs. 213,048.
The Sarafa Association said in a brief statement that the price of gold has been kept under cost by Rs. 4,000 considering the significant reduction in purchasing power of the public.
Yesterday, the price of the precious metal rose by Rs. 2,300 per tola while last week the price in the local market went up by Rs. 4,600 per tola.
In the international market, spot gold was down 0.3 percent to $2,417.95 per ounce, as of 0900 GMT, while the US gold futures also fell by 0.7 percent to $2,421.70.
Source: Pro Pakistani