Demand for yellow metal drops in local market after Gold price hits Rs127, 800 per tola

Demand for the yellow metal is reported to have dropped in the local market after the Gold price on Monday hits Rs127, 800 per tola!

According to the Sindh Jewellers Association, Monday saw an Rs600 increase in the gold prices taking the per tola price to Rs127,800. And Rs109,568 per 10 grams.

The gold has gained Rs9,800 in the past six sessions.

During the last week, the price of gold per tola in Pakistan also increased by Rs11,200.

In the international market, the gold price has been increased by US$9 per ounce and reached US$1802 per ounce.

While the price of silver per tola remained stable at Rs1470.

Gold is considered one of the safest investments, however, its skyrocketing prices have negatively affected the local demand.