Monday Oct 11, 2021
KARACHI: The price of gold in the local market on Monday remained unchanged in line with global markets. The precious metal closed the day at Rs115,250 per tola and Rs98,808 per 10 grams.
The rates last recorded a decrease of Rs50 per tola and Rs43 per 10 grams on Saturday.
Earlier, speaking to Geo.tv, local dealers expressed satisfaction over the declining gold prices as they believe that this will increase the seasonal demand for gold due to the wedding season.
A gold dealer had noted that since the Rabi ul Awal moon has been sighted, people are rushing to purchase gold jewellery as the wedding season is just around the corner.
Meanwhile, international gold prices decreased by $3 to close at $1,755 on Monday.
It is pertinent to mention that the gold rates in Pakistan are around Rs2,000 below cost compared to the gold rate in the Dubai market.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,400 per tola and Rs1,200.27 per 10 grams today.