Islamabad: The gold price in Pakistan posted a slight fall on Wednesday, breaking the five-session winning streak.
According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of gold on Wednesday declined by Rs1,050 per tola and Rs901 per 10 grams to settle at Rs150,100 and Rs128,686, respectively.
Prior to this fall, the price of the precious metal had jumped from Rs139,000 to Rs151,150 per tola in five sessions.
Gold price in Pakistan crosses Rs150,000 per tola threshold
Soaring inflation contributes more to the rising price of gold. Past practices suggest that people used to take aggressive positions in gold in inflationary days. In the international market, the price of yellow metal decreased by $3 per ounce to settle at $1,711.
After hitting an all-time high of Rs162,500 per tola on July 28, the price quickly dropped to Rs134,200, only to rise again.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams.
