ISLAMABAD: After a continuous decline for the last couple of days, the per tola price of 24 karats of gold witnessed a further decline of Rs.2,600 on Monday and was available in the market at Rs.209,400 as compared to Rs.212,000 on the previous day.
Meanwhile, as reported by All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karats of the precious metal also recorded a decrease by Rs.2,229 to close at Rs.179,527 from its last day rate of Rs. 181,756. In contrast, the price of 10 grams of 22 karats of gold decreased to Rs.165,544 from its last-day price of Rs. 166,610.
The price per tola and ten grams of the white plate (silver) witnessed a decrease of Rs.50 and Rs 42.87 to settle at Rs.2,500 and Rs.2,143.34, respectively.
Unlike the local market, the price of gold in the international market went up by $7 to settle at $1,926 per ounce from $1,919 the last day.
Decreasing Gold Price in Pakistan
After the recent announcement by the government to launch a crackdown against hoarding and smuggling, the local currency improved against international currencies, including the dollar, resulting in a direct impact on the price of gold in the local market.
A week before, the price of the precious metal in the local market reached the second highest ever price of Rs 2,39,000 per tola, whereas in May 2023, the price reached Rs 2,40,000 per tola.
