Gold price sees significant fall of Rs3,100 in domestic market

The price of gold per tola witnessed a downward trend on Tuesday, decreasing by a good Rs3,100 to settle at Rs204,200.

The price of 10 grams of the precious metal also decreased by Rs2,658 to reach Rs175,068 on Tuesday.

In the global market, the yellow metal saw a dip of $14 to reach $1,968.

Read Also: Rupee makes minor gains against dollar in interbank market

The price of gold per tola had dropped on Monday after a string of gains by Rs1,000, amid the rising value of US dollar against the rupee.

According to the Sarafa and Jewelers Association, the price of 24-karat gold per tola decreased by Rs1,000 on Monday and reached Rs207,300.

Read Also: KSE-100 index slide continues amid IMF deal uncertainty

Similarly, the price of 10 grams of pure gold had decreased by Rs858 to settle at Rs177,726 the same day.

In the international market, the per-ounce price of gold had decreased by $7 to close in at $1,982 on Monday.

Read Also: ‘IMF not taken in loop on planned petrol subsidy’