Gold prices take another tumble in global and local markets
Business
Gold prices fell once again in both global and local markets, with rates dropping by $17 internationally and Rs1,400 per tola in Pakistan
KARACHI (Dunya News) – The shine of gold continued to fade as prices dropped again in both international and local markets on Monday.
In the international bullion market, the price of gold slipped by $17 per ounce, bringing the new rate down to $4,235 per ounce.
Following the global trend, domestic markets also saw a dip. The price of 24-karat gold per tola fell by Rs1,400, settling at Rs444,900 per tola.
Meanwhile, the price of 10 grams of gold went down by Rs1,200, reaching Rs381,430.
On the other hand, the price of 24-karat silver per tola also inched down by Rs12, standing at Rs5,261.
Read more: Gold hits all-time high in Pakistan as global prices keep climbing
Market experts say the fall in gold prices is mainly due to global economic uncertainty and a stronger US dollar, which has pushed investors to play it safe and move their money elsewhere.
