Gold got cheaper in Pakistan on Monday. The 24-karat rate fell by Rs 12,800 to Rs 438,136 per tola. The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) issued the rate.
World gold fell about 3% to its lowest level since August 5. Rising oil prices have raised fears of higher US interest rates.
| Item | Saturday | Monday | Change |
|---|---|---|---|
| 24-karat gold, per tola | Rs450,936 | Rs438,136 | Down Rs12,800 (2.84%) |
| 24-karat gold, 10 grams | Rs386,604 | Rs375,631 | Down Rs10,973 (2.84%) |
| Silver, per tola | Rs6,903 | Rs6,578 | Down Rs325 (4.71%) |
| World gold, per ounce | $4,284 | $4,156 | Down $128 (2.99%) |
Percentages are calculated by Pakbiz from the association's figures.
Gold had already lost Rs 2,100 per tola on Saturday. Together, the two sessions cut Rs 14,900 from the price. That erases Friday's Rs 4,700 gain.
Silver fell faster than gold. Locally, it lost 4.71%. In the world market, silver dropped 4.8% to $61.17 per ounce.
