ISLAMABAD: After a decline of over Rs1000 last Saturday, the per tola price of 24 karats of gold witnessed another decrease by Rs.600 on Monday to settle at Rs.226,900 against its sale at Rs. 227,500 on the last trading day. Earlier before Saturday, the precious metal witnessed a continued increase for a couple of days.
Meanwhile, on Monday, the price of 10 grams of 24 karats of the yellow metal also went down by Rs.515 to settle at Rs.194,430 against its previous day price of Rs195,045, whereas the rates for the 10 grams of 22 karats of the yellow plate decreased to Rs.178,319 from its previous day price of Rs. 178,791.
Like the yellow plate, the price of per tola and 10 grams of the white plate (silver) also witnessed a decline and decreased by Rs.20 and Rs.17.15 to settle at Rs.2,580 and 2,211.93 respectively.
Gold Price in International Market
Like the local bullion market, the price for the precious metal in the international market also observed a decrease by $5 to settle at $2,170 per ounce against the previous day’s price of $.2,175, per ounce.
One of the major reasons for the recent increase (last week) in the gold price in the international market is the continued buying of gold from Chinese investors as due to the shrinking of the real estate and construction sector they turned to invest in safe heaven.
During the last couple of days (except the last 2 days) gold price went up by over $90 per ounce. The Price for the yellow metal in the local bullion market is mostly affected by the rates in the international market.
