November 25, 2024 (MLN): Gold price in Pakistan decreased on Monday, with 24-karat gold being sold at Rs278,600 per tola, down Rs4,100.

Globally, spot gold traded near $2,683 an ounce, down $36.7 or 1.35% from the previous session.

The decline in gold rates comes as investors book profits following last week’s astonishing rally, credited to escalating geopolitical tensions.

Moreover, the announcement of fund manager Scott Bessent as the new U.S. Treasury Secretary restricted safe-haven buying, Reuters reported.

Similarly, 24-karat gold per 10-gram was sold at Rs238,683 after a decline of Rs3,687, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

The price of 22-karat gold was also quoted lower at Rs218,793 per 10-gram.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs3,450 per tola and Rs2,957 per 10-gram.

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