Gold price decreases Rs500 per tola to Rs275,500 in local market

Gold price in Pakistan continued to decline on first trading day of the week mirroring the decrease in global rates.

In Pakistani bullion market, the price of one tola of 24-karat gold was recorded at Rs275,500, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). It is worth noting that this price is Rs500 down from the Saturday’s closing rate of Rs276,000 per tola.

The price for ten-gramme-gold also dropped by Rs428 to Rs236,197.

On Saturday, gold price was recorded Rs700 per tola down from the previous closing.

Interestingly, silver prices remained unchanged for another day at Rs3,050 per tola in local market.

Gold prices in the last week were seen at record peak of Rs277,000 per tola before witnessing three consecutive days of decline.

Moreover, the gold price in international bullion market were recorded approximately $4 down, clocking in at $2,653 per ounce. This rate also includes a premium of $20.