Per Tola Gold Price in Pakistan Continues to Decrease

Gold prices in Pakistan dropped on Monday, following a decline in the international market. In the local market, the price of gold per tola dropped by Rs. 3,300, settling at Rs. 430,362, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 10-gram gold also decreased, closing at Rs. 368,966 after a loss of Rs. 2,829 during the day. On Saturday, gold prices had risen, with the per tola rate reaching Rs. 433,662 after a gain of Rs. 1,800. Internationally, gold prices also declined on Monday. The global rate was reported at $4,080 per ounce (including a $20 premium), marking a loss of $ 3, as per APGJSA. Silver prices in the local market followed the same trend, dropping by Rs. 27 to reach Rs. 5,097 per tola. The drop in gold prices comes as the U.S. dollar strengthened to a more than two-week high against the yen, making gold more expensive for holders of other currencies. Signs of easing U.S.-China trade tensions also reduced demand for the safe-haven metal. Investors are now awaiting major central bank meetings later this week for further direction on monetary policy.