Gold prices in Pakistan decline by Rs1,300 per tola

Gold prices in Pakistan registered a decline on Monday, with 24-karat gold selling at Rs245,100 per tola, marking a decrease of Rs1,300 per tola.

The reduction in gold prices comes amid a context where the purchasing power has diminished significantly, keeping the price Rs3,500 below its actual cost.

According to the Karachi Sarafa Association, the price of 24-karat gold was reported at Rs210,134 per 10-gram, reflecting a decrease of Rs1,113 per tola. Similarly, the price of 22-karat gold also saw a decline, quoted at Rs192,622 per 10-gram.

In contrast, silver prices remained stable in the domestic market, with 24-karat silver maintaining its price at Rs2,900 per tola and Rs2,486 per 10-gram.

Internationally, spot gold traded near $2,374 per ounce, marking a decrease of $11.7 or 0.49% from the previous session. Despite this decline, gold had surged 2.8% last week, marking its largest weekly gain