Gold price in Pakistan falls Rs1,100 per tola

September 09, 2024 (MLN): Gold price in Pakistan decreased on Monday, with 24-karat gold being sold at Rs260,400 per tola, down Rs1,100.

The decline in gold rates has continued over the past week, with the yellow metal dropping Rs 1,000 per tola.

This was due to a mixed U.S. jobs report which created uncertainty about the extent of the interest rate cut expected from the Federal Reserve later this month.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs223,251 per 10-gram, down Rs943.

Similarly, the price of 22-karat gold was quoted lower at Rs204,647 per 10-gram.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs2,850 per tola (-Rs0) and Rs2,443 per 10-gram (-Rs0).

On the global front, spot gold traded near $2,496 an ounce, down $0.3 or 0.01% from the previous session.

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