ISLAMABAD: After a significant decrease of Rs 1600 on Saturday, the price of the per tola 24 karats of gold decreased further by Rs1,000 on Monday and was settled at Rs230,400 against its sale at Rs231,400 on the previous trading day.
The price of 10 grams of 24 karats of gold also went down by Rs857 to Rs197,531 from Rs.198,388, while the price of 10 grams of 22 karats of gold decreased to Rs.181,070 from Rs181,855 as per reports received from All Sindh Sarafa Jewellers Association.
However, prices of the white plate (silver) witnessed no change and were settled at Rs.2,750 and Rs.2,357.68 per tola and ten-gram, respectively.
The local market price of the yellow metal in the international market also went down and recorded a decrease of US$8 to $1940 against $1948 the previous day.
Fluctuation in Gold Price
The unstoppable fluctuation in the gold price in the local market happens due to several reasons, including the ongoing political and economic unrest, a poor response from the IMF to unlock the $1.1b tranche and the increasing rates in the international market. During the first week of May, the price of gold in the local market reached Rs 240,000 per tola, followed by a significant decline for two days and then again going up.
