KARACHI: Gold prices declined in Pakistan as per tola price witnessed a drop of Rs1,200 in the domestic market, according to a market report on Monday.

The price of the precious yellow metal of 24 karat dropped by Rs1,200 to settle at Rs212,100 per tola in Pakistan, the association said. Likewise, the rate of 10 grams of the precious metal also recorded a drop of Rs1,028 to settle at Rs181,842.

In the international market, the price witnessed a hike of $5 to settle at $1,998 per ounce.

Meanwhile, the dollar gained 13 paisa in interbank market on Monday morning and traded at Rs280.70, foreign exchange dealers said.

The banks are selling US dollar to importers at Rs281.20, according to currency dealers. The US currency value in the open market increases 50 paisa and it is trading at Rs 282, forex dealers shared.