Gold price falls by Rs200 per tola from record high

KARACHI: Gold prices in Pakistan experienced a slight decrease on Monday, following a record high in the previous session.

The price of 24-karat gold fell by Rs200, settling at Rs260,000 per tola. Notably, today’s price remains Rs4,000 below its actual cost.

In contrast, silver prices in the domestic market remained stable. The price of 24-karat silver was unchanged at Rs2,950 per tola and Rs2,529 per 10 grammes.

On the international front, spot gold traded near $2,504 per ounce, marking a slight decline of $2.30 or 0.09 per cent from the previous session.

So far this year, the price of gold has surged by 18 per cent, or Rs40,000 per tola, driven by expectations of monetary easing and significant purchases by central banks.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs222,908 per 10 grammes, a decrease of Rs172. The price of 22-karat gold also fell, now listed at Rs204,332 per 10 grammes.

Read next: Pakistan sees nearly 40 per cent increase in petroleum import bill