The price of gold dropped by Rs1,200 to stand at Rs214,300 per tola for selling on Monday as against its earlier price of Rs215,500/tola, the All Sindh Sarafa Jewellers Association reported.

Similarly, the price of 10 grammes of gold also declined by Rs1,028 to settle at Rs183,728 from the previous price of Rs184,756.

The price of 10 grammes of 22 karat gold was also down to Rs168,416 from the previous price of R.169,360.

Meanwhile, the price of per tola and 10 grammes of silver remained stagnant at Rs2,600 and Rs2,229.08, respectively.

In the international market, gold slipped on Friday and was heading for a weekly fall, pressured by elevated Treasury yields, while investors awaited next week’s US inflation data for more clues on the timing of the Federal Reserve’s interest rate cuts.

Spot gold was down 0.5% at $2,022.86 per ounce and fell 0.8% over the week while US gold futures settled 0.4% lower at $2038.7.