Gold price in Pakistan witnessed a notable decline on Monday, reflecting a downward trend in the international bullion market. The price per tola dropped by Rs3,800, bringing it down to Rs479,962 in the local market. This shift has caught the attention of investors and traders closely monitoring gold price movements.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also fell significantly. It decreased by Rs3,257 to settle at Rs411,490, indicating a consistent decline across different weight measurements in the domestic market.
The drop in gold price in Pakistan follows a similar pattern seen globally. In the international market, gold prices fell by $38 per ounce, bringing the rate down to $4,576 per ounce. This figure includes a premium of $20, which is commonly added in global trading benchmarks.
Market analysts suggest that fluctuations in international rates often have a direct impact on local gold prices. As Pakistan relies heavily on imported gold, any change in global pricing quickly reflects in domestic markets, affecting both traders and consumers.
On the previous trading session, Saturday, gold prices had already shown a slight decrease. The price per tola had dropped by Rs200, settling at Rs483,762. Monday’s larger decline indicates increased volatility in the gold market over recent days.
In addition to gold, silver prices in Pakistan also experienced a downturn. The price of silver per tola fell by Rs100, reaching Rs7,914. This parallel decline suggests a broader trend affecting precious metals in both local and international markets.
Experts believe that ongoing economic conditions, currency fluctuations, and global demand continue to influence gold price in Pakistan. Investors are advised to stay informed and cautious, as further changes in international markets may impact local rates in the coming days.
