The gold price in Pakistan fell by Rs1,800 per tola on Monday, bringing the price of 24-karat gold to Rs466,136, according to the All Pakistan Gems and Jewellers Association.
The latest decline came as gold prices also weakened in the international market. The domestic market has recently seen significant price movements amid changes in global bullion rates.
According to the association, the price of 10 grams of gold decreased by Rs1,543. The latest rate for 10 grams stood at Rs399,636 following the downward adjustment.
The international gold market also recorded a decline. The price of gold fell by $18 to $4,436 per ounce, contributing to the reduction in local bullion prices.
The latest movement follows a sharp decline recorded in Pakistan’s gold market during the previous session. Gold had closed at Rs467,936 per tola on Saturday after falling by Rs15,100 during that session.
Gold prices in Pakistan are closely linked to international bullion rates and currency movements. Changes in global prices can therefore have a direct impact on the domestic market and the rates offered to consumers.
With the latest decline, the gold price in Pakistan remains at a high level despite the short-term correction. Traders and buyers are continuing to monitor international market movements, exchange rates and geopolitical developments for their potential impact on bullion prices.
