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Friday, November 22, 2024

Home Pakistan Gold price falls sharply in Pakistan after IMF loan revival

Gold price falls sharply in Pakistan after IMF loan revival

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KARACHI – Gold prices dropped in the domestic market on Monday as investors’ confidence is revived after the signing of a staff-level agreement between Pakistan and the IMF.

On Monday, the price of gold decreased by Rs8,800 to close at Rs207,200 per tola while the price of 10 grams of 24 carats of gold saw a decline of Rs7,545 to settle at Rs177,640.

Meanwhile, the price of silver also saw a massive drop; silver per tola plunged by Rs50 and currently stands at Rs2500 while the price of 10 grams dropped by Rs42.87 and currently stands at Rs2,143.

In the international market, the price of the precious metal soared by $6 to settle at $1,912.