Gold slips further in Pakistan

November 11, 2024 (MLN): Gold extended its downward slide on Monday, with 24-karat gold being sold at Rs277,500 per tola, down Rs1,300.

Last week, the yellow metal slumped Rs4,200 per tola amid a strengthened US dollar, which makes the safe haven asset relatively expensive for holders of other currencies.

On the global front, spot gold traded near $2,672 an ounce, down $13.2 or 0.49% from the previous session.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs237,911 per 10-gram, down Rs1,115.

Similarly, the price of 22-karat gold was quoted lower at Rs218,085 per 10-gram.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs3,300 per tola and Rs2,829 per 10-gram.

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