KARACHI : All Sindh Sarafa Association recorded a Rs 3000 drop in gold prices per tola on Monday, bringing the price of gold to Rs 53,500 per tola. This is the biggest ever fall in gold prices to be recorded in one day. The price of gold in the international markets is also facing a two year low, trading at $1,444 per ounce after a sharp drop by over $57 per ounce. The price of gold has decreased by 20 percent since it reached a record high in September 2011.

Analysts say investors are taking less interest in trading gold at this time as they expect an improvement in the global economy.