The price of 24-karat gold declined by Rs1,750 as it reached Rs225,500/tola in the local market on Monday.

The price of gold also eased by Rs1,500/10 grams, which is now being sold at Rs193,330 in the local market.

In the international market, the gold bullion was trading at $1,963/ounce after witnessing an increase of $2.

As the rupee is continuously depreciating against the dollar, investors prefer to buy the yellow metal as a safe investment and a hedge to protect themselves against inflation and currency depreciation.

The domestic gold market has remained volatile for the last year due to economic and political instability, high inflation, and currency depreciation.