Gold price slips to Rs243,900 per tola

ISLAMABAD: Gold price in the country extended decline by Rs500 per tola following a dip in the price of the yellow metal in the international market. According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold decreased to Rs243,900 from Rs244,400. Similarly, the price for 10 grams of 24-karat gold decreased to Rs209,105 from Rs209,535, showing a dip of Rs429. Following suit, the price for 10 grams of 22-karat gold decreased to Rs191,680. Earlier, the gold price per tola decreased by Rs7,800 last week. It may be noted that the gold price hit an all-time high in Pakistan on April 20 when it reached Rs252,200. Earlier gold price per tola in Pakistan hit all-time high of Rs251,900 on April 17, Rs247,300 on April 16 and Rs247,600 on April 9. On the other hand, gold futures in the international market as of 1315 hours GMT, were available at $2,330.80 per ounce, showing a dip of $6.60. Out of the $6.60 decrease, +$5.95 was due to weakening of the US dollar and -$12.55 was due to predominant sellers, according to the Kitco Gold Index. TLTP