The price of gold in Pakistan rose slightly on Wednesday after losing over Rs. 11,000 per tola in the previous two days.

According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) increased by Rs. 1,100 per tola to Rs. 242,000, while the price of 10 grams registered an increase of Rs. 943 to Rs. 207,476.

It is pertinent to mention here that the price of gold had fallen by Rs. 3,500 per tola on Monday before posting another decline of Rs. 7,800 per tola on Tuesday, taking the two-day losses to Rs. 11,300 per tola.

The fall in the price of gold was mainly due to a decline in international gold prices that went down over easing tensions in the Middle East.

International gold prices also fell for a third consecutive day today with spot gold down 0.3 percent to $2,314.95 per ounce by 1001 GMT, while the US gold futures fell 0.6 percent to $2,328.40.

Source: Pro Pakistani