Gold prices go down, further price decrease expected

KARACHI: The price of gold price went down by Rs.300/- per tola on Monday, NewsONE reported.


24K Gold price went down Rs.300 per tola, making it worth Rs45,600 per tola. The price of 10 gram gold went down by Rs.250, making it Rs.35,592 per tola.

Predicting a further decrease in gold prices, President of Sindh Sarafa Association Haroon Chand said, “Considering the current situation, gold prices are expected to go down to Rs42,000 per tola”.

America’s economy is improving, said Chand. He further added that America has improved its relationship with North Korea, Iran and other nation, giving a boost to its economy.

“The value of the dollar is increasing, therefore, people have started selling off their gold to buy currency. Earlier they were selling off currency to buy gold,” said Chand.