ISLAMABAD: The price of 24 karat per tola gold witnessed decrease of Rs 700 and was sold at Rs 108,200 in the local market on Monday against its sale at Rs 109,200 the previous day, Karachi Sarafa and Jewellers Group reported.

The price of 10 gram 24 karat also decreased by Rs 600 and was traded at Rs 93,021 against Rs 93,621 whereas the price of ten gram 22 karat gold went down to Rs 85,270 from Rs 85,820.

The price of per tola and ten gram silver remained stable at Rs 1440 and Rs 1234.56, respectively.

The price of gold in international market decreased by US$ 16 and was traded at US$1747 against its sale at US$1763.

Bullion prices witnessed sell off occurred on Friday on better than expected rise in US Job numbers which fuelled expectations of sooner FED tapering. The US Federal Reserve Vice Chairman earlier said that Fed may look to raise interest rates sooner than 2023.