Gold Price Falls by Rs600, Now Trading at Rs271,900 Per Tola

On Monday, the price of 24 karat gold experienced a decrease of Rs600, bringing the new price to Rs271,900 per tola, down from Rs272,500 in the previous trading session. This drop in price comes as the global gold market also saw a decline of $5, with gold now priced at $2,617 per ounce compared to $2,622.

Additionally, the 10 grams of 24 karat gold price fell by Rs471, now standing at Rs233,110. The 10 grams of 22 karat gold also saw a decrease, with the new price at Rs213,685, compared to Rs214,156.

Despite the fluctuations in gold prices, the price of silver remained unchanged in both the local and international markets. The All Sindh Sarafa Jewellers Association confirmed that silver continues to trade at Rs2,950 per tola and Rs2,529.14 per 10 grams.

Market analysts attribute this decline to international market trends and the strengthening of the US dollar, which often influences commodity prices. The drop in gold prices presents an opportunity for investors and buyers in Pakistan’s local market to take advantage of the lower rates.