A day after hitting a record high, the price of gold in Pakistan experienced a tiny drop on Friday.
The price of 24 carats of gold decreased by Rs. 900 per tola to Rs. 240,200, while the price of 10 kilos was down by Rs. 772 to Rs. 205,932, according to data published by the Karachi Sarafa Association.
The country’s precious metal prices shot up to an all-time high of Rs. 241,100 per tola the day before. The main cause of the increase in the price of gold, especially since the beginning of March, is an increase in the price of gold globally.
The price of gold reached $2,300 an ounce on the global market on Thursday, and Swiss Asia Capital’s chief investment officer, Juerg Kiener, predicted that the metal will reach $2,600 an ounce in the coming year.
