The price of gold in Pakistan saw a slight decrease on Monday, yet it continues to hover near its all-time high.
According to the Karachi Sarafa Association, the price of 24-carat gold fell by Rs. 200 per tola, bringing it to Rs. 260,000. Similarly, the price for 10 grams of gold decreased by Rs. 172, settling at Rs. 222,908.
Despite the minor drop, the Sarafa Association noted that the local market price of gold remains Rs. 4,000 per tola below its actual cost, indicating a strategic pricing decision to maintain market stability.
On the international front, gold prices initially surged to a record high before retreating. Spot gold saw a decline of 0.4 percent, priced at $2,496.46 per ounce as of 1011 GMT. Meanwhile, US gold futures experienced a slight dip of 0.1 percent, priced at $2,534.80.
The fluctuations in gold prices reflect ongoing global economic uncertainties, impacting both local and international markets. Investors and market analysts continue to monitor these trends closely, as gold remains a key indicator of economic health and investor sentiment.
