Gold falls Rs3,800 as global rate hits 1-month low
Gold prices in Pakistan fell Rs3,800 per tola on Monday, tracking the decline in international bullion markets, as rising oil prices and stronger-than-expected US inflation data bolstered expectations of a possible rate hike by the Federal Reserve this week. According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold fell to Rs453,336 per tola from Rs457,136 on Saturday. The price of 10-gram gold declined by Rs3,258 to Rs388,662. Meanwhile, silver prices decreased by Rs122 per tola to Rs6,802.