KARACHI – The gold rates on Monday moved down by Rs2,500 per tola in line with the drop in the international rates.

According to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the cost of 24-carat gold experienced a significant drop of Rs2,500 per tola, reaching a final price of Rs222,200.

Meanwhile, the price of 10gram gold moved down by Rs2,145 and was settled at Rs190,500.

The price of gold in the global market declined by $16 and closed at $1,959 per ounce on the first business day of the week.

Gold in Pakistan experienced fluctuations due to economic instability, soaring inflation rates, and a significant devaluation of the local currency. As a result, investors chose to opt for precious metals as a secure investment option.

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