Islamabad: The price of gold in Pakistan declined by Rs2,800 per tola on Monday after going up Rs7,300 in the last three sessions.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold came down Rs2,800 per tola on Monday to settle at Rs184,500. Similarly, the price of gold on a ten-gram basis also came down Rs2,401 to settle at Rs158,179.
Meanwhile, silver prices in the domestic market fell by Rs20 per tola and Rs17.15 per 10 grams to settle at Rs2,080 and Rs1,800.41.
Last week, gold prices remained volatile, with the precious commodity undergoing correction during the first three sessions; however, it regained its shine.
Gold is considered to be a safe haven against inflation — which has climbed to a multi-decade high both on a weekly and monthly basis.
Investors are pouring money into the precious yellow metal to safeguard their positions as the economic crisis led by political turbulence boosted the metal’s appeal.