Gold price in Pakistan falls Rs2,400 per tola

Gold prices in Pakistan dropped on Monday, according to Mettis Link News, with 24-karat gold selling for Rs463,136 per tola after a reduction of Rs2,400. The same grade was priced at Rs397,064 per 10 grams following a decline of Rs2,058, based on figures released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

Silver also declined in the domestic market, with 24-karat silver quoted at Rs7,059 per tola, which is Rs39 lower, and Rs6,051 per 10 grams, down Rs34. The 22-karat rate also moved down, reaching Rs363,988 per 10 grams.

Internationally, spot gold was trading near $4,403 an ounce, falling $20.1 or 0.45 per cent from the previous session. Mettis Link News linked the decline to a US jobs report that came in stronger than expected, which raised expectations of higher interest rates. Traders are also watching US inflation figures due later this week, which bear on the Federal Reserve's policy direction.