The jewellery market in Pakistan witnessed another great fall of Rs2,600 per tola in gold prices on Monday.
The value of the yellow metal was lost in the Pakistani markets last week too as the gold prices dropped by Rs27,300 per tola.
According to the 24News HD TV channel, the value of gold has taken a sharp downturn in Pakistan on Monday as 24-karat of gold experienced a significant drop, plummeting by Rs2,6000 per tola to reach a new price of Rs2,09,400 per tola.
Similarly, the price of ten grams of 24 Karat gold has declined by Rs2,229, now valued at Rs1,79,527.
Notably, the reverberations of this decrease in gold prices have also rippled through the pricing of 22-karat gold, a popular choice for jewellery crafting in Pakistan which is currently trading at Rs 1,64,566 per 10 grams.
On the other hand, the global gold market has witnessed an increase in the prices of the yellow metal. The international price per ounce raised by $7 to settle at $1,926 on Monday.
The price of silver also decreased by Rs50 per tola to Rs2,500 per tola. The price of 10 grams of silver of 24 karats also decreased by Rs42.87 to Rs2143.34.