Gold rates register drop in Pakistan

ISLAMABAD: The rates of 24 karat per tola gold decreased by Rs.1,300 and was sold at Rs.277,500 on Monday November 11, 2024 against its sale at Rs.278,800, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also went down by Rs.1,115 to Rs.237,911 from Rs.239,026 whereas that of 10 gram 22 karat gold increased to Rs.218.085 from Rs.219,107.

The price of per tola and ten gram silver remained constant at Rs. 3,300 and Rs. 2,829.21, respectively.

The price of gold in the international market declined by $13 to $2,670 from $2,683, the Association reported.

In Saudi Arabia, the rates of per tola price 24-karat gold on Monday (November 11) dropped to 3,771 Saudi Riyal (SAR).

According to forex.pk, the 10 grams of 24-k gold is being sold for SAR 3,237 in the kingdom while the per ounce gold price stands at SAR 10,067.

Read More: Gold rates in Saudi Arabia today – 11 November 2024

Note: The gold price across the world, including Saudi Arabia, changes constantly and there will be some differences in this post as the prices were updated at 10:15 am on November 11, 2024.

On the global front, gold prices declined for a second session on Monday, hurt by a firmer dollar and increased risk appetite, as markets expect the Federal Reserve to adopt a cautious approach under U.S. President-elect Donald Trump’s administration.

Spot gold fell 0.6% to $2,666.48 per ounce, as of 0927 GMT. U.S. gold futures fell 0.8% to $2,673.20.

“Gold prices have declined primarily due to a stronger U.S. dollar, rising Treasury yields, and increased risk appetite in financial markets — a trend that has gained momentum since Donald Trump’s victory in last week’s presidential election,” said Ricardo Evangelista, senior analyst at ActivTrades.