Gold price decreases by Rs3,300 per tola in Pakistan

Karachi (Web Desk): Gold prices in Pakistan saw a notable decline on Monday, reflecting weakness in the global bullion market. The price of 24-karat gold dropped by Rs3,300 per tola, closing at Rs430,362 compared to Rs433,662 in the previous session.

Similarly, the rate for 10 grams of 24-karat gold fell by Rs2,829 to Rs368,966 from Rs371,795. The price of 10 grams of 22-karat gold also decreased by Rs2,593, settling at Rs338,231, according to figures released by the All Pakistan Sarafa Gems and Jewellers Association.

The global market mirrored this downward movement, with international gold prices slipping by $33 to reach $4,080 per ounce against the earlier $4,113.

Silver prices also moved lower during the session. The rate for one tola of silver fell by Rs27 to Rs5,097, while 10 grams were priced at Rs4,369 after a drop of Rs24. On the international front, silver traded at $48.35 per ounce, showing a marginal decrease of $0.27.

The association stated that local bullion prices were determined based on interbank exchange rates, with gold purity measured at the 999/24K standard.