KARACHI: Gold rates dropped by Rs1,200 to Rs104,400 per tola in the domestic market on Monday, reported ARY News.
Likewise, the rate of 10 grams of yellow metal recorded a Rs1,027 drop and was traded at Rs89,506, according to Muhammad Arshad, chairman of the All Pakistan Jewelers Manufacturers Association.
On the other hand, gold rates held steady in the international market on Monday, buoyed by concerns over inflation after U.S. President Joe Biden announced a $2 trillion-plus jobs plan last week, while a stronger dollar and elevated U.S. Treasury yields limited bullion’s upside.
Spot gold was flat at $1,728.60 per ounce, as of 0146 GMT. Gold futures edged up 0.1% to $1,729.50 per
ounce.
