Gold loses traction, price drops by Rs550 per tola

• Domestic gold prices settle at Rs131,350 per tola.
• International gold price drops by $26 per ounce.
• Silver prices in the domestic market remain unchanged.

KARACHI: In line with the global market, domestic gold prices fell by Rs550 per tola and Rs472 per 10 grams on Monday.

Domestic gold prices settled at Rs131,350 per tola and Rs112,611 per 10 grams owing to a declining trend in global rates.

The international gold price dropped by $26 per ounce to $1,932 today.

In the last session, gold prices in the local bullion market soared by Rs450 per tola and Rs386 per 10 grams to reach Rs131,900 per tola and Rs103,083 per 10 grams.

Gold rates in Pakistan are around Rs6,000 below the cost compared to the rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,510 per tola and Rs1,294.58 per 10 grams today.