Rs43 | Pakistan

Gold prices in Pakistan slid by Rs43,600 per tola (24 karat) on Monday to Rs447,762 as international prices for the yellow metal fell by more than eight per cent to hit their lowest level in four months. This was after gold logged its biggest weekly loss in about 43 years last week, as an escalating Middle East conflict stoked inflation concerns and raised expectations of higher global interest rates. Spot gold declined 6.3pc to $4,203.21 per ounce by 07:57 GMT (12:57pm PKT), extending losses into a ninth straight session. It had shed more than 8pc to $4,097.99 earlier in the session to its lowest level since November 24. US gold futures eventually settled 3.7pc lower at $4,407.30. The metal dropped more than 10pc last week, its steepest weekly loss since February 1983, and has also retreated about 25pc from its record peak of $5,594.82 an ounce reached on January 29. US gold futures for April delivery dropped 8.1pc to $4,205.10. “With the Iranian conflict into its fourth week, and oil prices hanging around t...