Sarafa Association Reports Decline in Gold Prices

Gold prices in Pakistan experienced a decline on Monday, aligning with the global trend of decreasing prices. The Sarafa Association reported that the price of 24-karat gold fell by Rs500 to reach Rs243,900 per tola. Similarly, the price of 10 grams of gold decreased by Rs429 to settle at Rs209,105 in the domestic market.

Internationally, the precious metal also saw a slight decrease, with the per ounce price dropping by $2 to close at $2,335. This dip in prices comes after gold rates in Pakistan had reached an all-time high above Rs250,000 per tola, prompting a downward movement in response to the soaring rates in the global market.

Recent data from the Sarafa Association indicates a Rs600 drop per tola, bringing the new rate to Rs244,400. Similarly, the price of 10 grams of gold experienced a decline of approximately Rs514, with the new price hovering around Rs209,534.

The fluctuation in gold prices, both domestically and internationally, highlights the sensitivity of the market to global economic conditions. Investors and consumers alike are closely monitoring these changes to make informed decisions regarding their gold holdings and purchases.