The price of gold in Pakistan registered a massive drop on Monday to settle at Rs. 207,200 per tola.

According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) fell by Rs. 8,800 per tola to Rs. 207,200 while the price of 10 grams went down by Rs. 7,554 to close at Rs. 177,641.

Today’s drop means that the precious metal is currently trading much below the all-time high of Rs. 240,000 per tola recorded on May 10. After rising consistently for the past many months, the price of gold fell by Rs. 20,200 per tola last month (June).

In the international market, spot gold was down 0.3 percent to $1,913.88 per ounce by 1222 GMT, while the US gold futures were down 0.4 percent to $1,921.8.

Source: Pro Pakistani