Karachi: The price of gold in Pakistan saw a decline on Monday, ending a four-session upward trend influenced by international market
Gold prices in Pakistan declined after a four-session rise.During Muharram, demand for gold typically decreases in Pakistan. trends and the onset of the Islamic month of Muharram.
Traditionally, during Muharram, which marks the start of the Islamic New Year, demand for bullion tends to decrease in the local market. Silver prices remained stable in Pakistan, holding steady at Rs 2,900 per tola and Rs 2,486.28 per 10 grams.slipped as investors opted to secure profits after a recent surge. Spot gold declined by 0.6% to $2,377.75 per ounce by 0704 GMT, following a high not seen since late May.US gold futures also saw a decrease of 0.5%, settling at $2,385.50 per ounce.
“China’s temporary pause in gold purchases does not diminish overall demand, which continues to support a bullish outlook for gold prices,” Simpson noted.
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