FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
The price of gold in Pakistan posted a significant decline on Monday after surging by over Rs. 15,000 per tola last week.
According to data issued by the All-Sindh Sarafa Jewellers Association, the price of gold (24 carats) fell by Rs. 4,300 per tola to Rs. 278,400, while the price of 10 grams was down by Rs. 3,657 to Rs. 238,683.
The price of gold in the international market increased by $43 to $2,672 from $2,715, the Association said.
Gold has seen a lot of volatility in the past two weeks. The price of gold in the local market rose by Rs. 15,300 last week. The rally came on the back of a massive plunge in prices the previous week that saw gold fall to around Rs. 266,000 per tola level from the all-time high of above Rs. 287,000 per tola.