ISLAMABAD: The downward trend in the price of gold in the local market continues as the per tola price of 24 karats of gold further went down by Rs 1,750 on Monday to settle at Rs 225,500 against Rs227,250 on the last trading day.
According to All Sindh Sarafa Jewellers’ Association, the price of 10 grams of 24 karats of gold also went down by Rs1,500 to settle at Rs193,330 from Rs 194,830 whereas the price of 10 grams of 22 karats of gold decreased to Rs 177,219 from Rs178,594.
The price per tola and ten grams of silver witnessed no change and remained constant at Rs 2,650 and Rs 2,271.94 respectively.
Unlike the local market, the price of the precious metal in the international market went up by US $2 to $1963 against $1961 the other day.
During the last few days, it was for the second time that despite an increase in the international market, the price of yellow plate went down in the local market.
Continues Downfall in Price
The last couple of days has witnessed a total decline of over Rs7,000 in the price of the yellow plate. The local market witnessed a significant increase in the price of gold during April and May this year where its prices reached a historic high of Rs 240,000 per tola in the first quarter of May
According to bullion experts, the constant downfall in the price of the yellow plate would bear a positive sign in the local market and would also discourage the manipulators who took the price to an unaffordable level for the general public.
