Ten grams of 24 carat gold also had a price decrease of Rs. 1,115, from Rs. 239,026 to Rs. 237,911, while ten kilos of 22 carat gold saw a rise in price from Rs. 219,107 to Rs. 218.085.
The cost of ten grams of silver and one tola of silver stayed at Rs. 2,829.21 and Rs. 3,300, respectively.
As stated by the Association, the price of gold fell $13 to $2,670 on the global market.
On Monday, November 11, 24-karat gold prices fell to 3,771 Saudi Riyals (SAR) per tola in Saudi Arabia.
The price of 24-kar gold is SAR 10,067 per ounce, while 10 grams of the metal are being sold for SAR 3,237 in the kingdom, according to forex.pk.
Note: Since the prices were updated at 10:15 am on November 11, 2024, there may be some discrepancies in this post due to the dynamic nature of the gold market globally, especially in Saudi Arabia.
As the markets anticipate the Federal Reserve to take a cautious stance under U.S. President-elect Donald Trump’s administration, gold prices fell for a second session on Monday due to a stronger dollar and heightened risk appetite.
As of 09:27 GMT, spot gold was down 0.6% to $2,666.48 an ounce. The price of US gold futures dropped 0.8% to $2,673.20.
“A stronger U.S. dollar, rising Treasury yields, and increased risk appetite in financial markets are the main reasons why gold prices have declined — a trend that has gained momentum since Donald Trump’s victory in last week’s presidential election,” said Ricardo Evangelista, senior analyst at ActivTrades.
