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On Monday, the gold price in Pakistan experienced a decline of Rs. 1,200 per tola, settling at Rs. 214,800 per tola. According to data released by the Karachi Sarafa Association, the
price of 24-carat gold dropped by Rs. 1200 per tola to reach Rs. 214,800, and the price of 10 grams witnessed a decrease of Rs. 1,029, reaching Rs. 184,156.
Read Also: Are Pakistan and Saudi Arabia About to Finalize a Deal for the Reko Diq copper and gold project?
The previous week saw fluctuations in gold prices, with a Rs. 1,500 increase per tola on Monday and an additional Rs. 700 per tola on Tuesday. Wednesday saw a dip of Rs. 600 per
tola, followed by an increase of Rs. 800 per tola on Thursday and a final surge of Rs. 1,400 per tola on Friday.
In the global market, spot gold faced a decline on Monday due to the rise in the US dollar and Treasury yields, driven by improved employment data. This development dampened
expectations for an imminent interest rate reduction from the US Federal Reserve, as reported by international media earlier today.
As of 15:45 (PKT), spot gold was down by 0.64 percent, reaching $1,193.71 per ounce.