Gold prices in Pakistan saw a little drop on Monday, but they are still very close to the important threshold of Rs. 240,000 per tola.
According to information supplied by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold per tola decreased by Rs. 700, bringing it to a total of Rs. 239,100. Concurrently, the price for 10 grams went down by Rs. 600, coming in at Rs. 204,990 towards the end of the day.
In spite of the fact that on July 12 it had fallen to a low of Rs. 204,000 per tola, after having reached a record high of Rs. 240,000 per tola, the price of this precious metal has been moving in the direction of an increase over the last several weeks.
The depreciation of the Pakistani rupee in relation to the United States dollar may be credited with bringing about this spike in gold prices.
Spot gold prices rose by a minuscule 0.1 percent, hitting $1,940.80 per ounce at 1200 GMT, as reported by international markets. In a similar vein, gold futures traded in the US for delivery in December showed a little increase of 0.03 percent, taking the price to $1,967.50 per ounce.