The price of per tola 24 karat gold decreased by Rs200 on Monday and was traded at Rs214,500 against its sale at Rs241,700 on the last trading day.
According to All Sindh Sarafa Jewellers Association, the rates of 10 grams of 24 karat gold also went down by Rs172 to Rs207,047 from Rs207,219 whereas that of 10 gram 22 karat gold decreased to Rs189,793 from 189,950.
The price of per tola and ten gram silver were remained stagnant at Rs2,850 and Rs2,443.41 respectively.
The price of gold in the international market decreased by $2 to $2,324 from $2,326, the Association reported.
Read more: Gold shines on rate-cut hopes after inflation data
It is pertinent to mention here that back in April, gold prices in the local market had reached an all-time high of Rs252,200 per tola.
The fluctuations in gold prices are largely driven by changes in the international market, reflecting the global demand and supply dynamics for the precious metal.
