The per tola gold price decreased to Rs283,400 compared to its sale at Rs284,300 on last trading day, the All Sindh Sarafa Jewellers Association reported.

The association further reported that the price of 10 grams of 24 karat gold also decreased by Rs771 to Rs242,970 from Rs243,741. Likewise, the price of 10 gram 22 karat gold went down to Rs222,722 from Rs223,430, it said.

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According to FX Street, gold fell over half a percent to trade in the $2,730s on Monday but remained within the confines of the previous week’s mini range. The precious metal loses ground on reports that demand from China, its largest market, is softening, it said.

The precious metal, however, remained underpinned by safe-haven flows due to the ongoing conflict in the Middle East, which intensified over the weekend with Israel’s bombing of Iran, although the effect was offset by the decision only to target military installations and crucially not Oil and nuclear facilities, according to the report.