KARACHI – Gold prices in Pakistan recorded a significant drop on first day of the business week in line with downward trend in international market on Monday.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price decreased by Rs3,200, with new rate settling at Rs523,762.
Similarly, the price of 10-gram declined by Rs2,743 to reach Rs449,041 in local market.
The price of precious commodity in the international market saw a decrease by $32 to $5,010 from $5,042.
In previous session, the price of per tola gold witnessed an increase of Rs7,000 to reach Rs526,962.
The price of 10 grams also increased by Rs6,001 to Rs451,784.
Meanwhile, the Pakistan Stock Exchange (PSX) is experiencing a downward trend on opening day of the new business week head of talks with the International Monetary Fund for release of another loan tranche.
The KSE-100 index benchmark shed 2,242 points to reach 177,360 points, marking a negative change of 2.25 during the intraday trading.
Experts believe that investor sentiment remains uncertain ahead of the IMF team’s visit for the third review under the Extended Fund Facility (EFF).
The team will assess key economic indicators before recommending the release of a $1 billion loan tranche to Pakistan.
