Gold price per tola slashed by Rs1,700

Gold prices in Pakistan registered a decline again with a reduction of Rs1,700 per tola, standing at Rs274,500, according to the rate list provided by the Sarafa market. 

The decline was seen in line with the reduction of yellow metal's prices in the global market, leading the 10-gram 24-karat gold to Rs235,340 after registering a decrease of Rs1,457. 

According to All Pakistan Gems and Jeweler Sarafa Association, on Saturday, per tola prices decreased by Rs1,100 in Pakistan, and another positive development was seen in the international market on Monday, when gold lost $17, and reached $2,633 per ounce (with a premium of $20).

Experts believe that this bearish momentum in the global market would be stretched today as well to $2600 barriers, and it would potentially extend to $2560. 

The expected trading range for today is between $2605 support and 2640.00$ resistance.

In contrast, silver prices remained unchanged, with per tola silver price at Rs3400 and 10 grams of silver price at Rs2,914.95.