Third consecutive decline: 24-karat gold rate falls by Rs500 per tola in Pakistan

KARACHI: Gold prices resumed their decline on the first trading day of the week, falling further in Pakistan on Monday.

According to market details, 24-karat gold was being sold at Rs275,500 per tola in the bullion market, marking a decrease of Rs500 per tola.

On the international front, spot gold traded at approximately $2,655 per ounce, down by $7.9 or 0.30 per cent from the previous session.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs236,197 per 10 grammes, a drop of Rs428. Similarly, the price of 22-karat gold was recorded lower at Rs216,514 per 10 grammes.

Meanwhile, silver prices remained stable in the domestic market, with 24-karat silver priced at Rs3,050 per tola and Rs2,615 per 10 grammes.

According to Mettis Global, some jewellers and gold shop owners in Karachi indicated that the yellow metal was being traded nearly Rs9,000 per tola higher than the official rates quoted by the Karachi Sarafa Association.

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