Gold loses traction, price declines by Rs350

• Price of yellow metal settles at Rs141,500 per tola.
• Price declines by Rs301 per 10 grams.
• Silver prices in domestic market remain unchanged.

KARACHI: The price of gold in Pakistan receded on Tuesday by Rs350 after an increase in its price a day earlier. 

According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of the yellow metal settled at Rs141,500 per tola in the local bullion market. 

Meanwhile, the price declined by Rs301 per 10 grams to settle at Rs121,313.

Meanwhile, in the international market, the gold price lost $10 per ounce to settle at $1,823 as the dollar weakened and economic concerns persisted. 

Gold rates in Pakistan are around Rs3,000 below cost compared to the gold rate in the Dubai market.

Silver prices in the domestic market remained unchanged at Rs1,550 per tola and Rs1,328.87 per 10 grams today.