On Monday, the gold price in Pakistan experienced a notable decline, decreasing by Rs. 1,200 per tola to reach Rs. 214,800 per tola. The Karachi Sarafa Association provided data indicating that the price of 24-carat gold dropped by Rs. 1,200 per tola to Rs. 214,800, and the cost of 10 grams saw a reduction of Rs. 1,029 to Rs. 184,156.
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In the preceding week, the gold market exhibited fluctuating trends. The gold price per tola increased by Rs. 1,500 on Monday and Rs. 700 on Tuesday. Subsequently, on Wednesday, there was a dip of Rs. 600 per tola, followed by an increase of Rs. 800 per tola on Thursday. The week concluded with a substantial rise of Rs. 1,400 per tola on Friday.
In the global market, the price of spot gold witnessed a decline on Monday due to the strengthening of the US dollar and Treasury yields. This movement followed improved employment data, which diminished expectations for an imminent reduction in interest rates by the US Federal Reserve. As of 15:45 (PKT), spot gold showed a decrease of 0.64 percent, reaching $1,193.71 per ounce, as reported by international media.
