The gold price in Pakistan declined by Rs2,400 per tola on Monday, following a drop in international gold rates. The precious metal reached Rs463,136 per tola in the local market.
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, gold prices moved lower during the day. The latest decline followed a Rs3,600 per tola drop recorded on Saturday.
The price of 10-gram gold also decreased on Monday. It fell by Rs2,058 to reach Rs397,064, reflecting the downward movement in the local precious metals market.
The decline in the gold price in Pakistan came alongside a weaker international market. Global gold prices fell by $24 per ounce to reach $4,406, putting additional pressure on local gold rates.
Gold prices in Pakistan have remained sensitive to movements in the international market. Changes in global bullion prices can quickly affect local rates, particularly when international demand and market conditions shift.
Silver prices also moved lower on Monday. The price of silver declined by Rs39 per tola to reach Rs7,059, extending the downward trend across major precious metals in the local market.
With the latest decline, the gold price in Pakistan has recorded another significant daily drop. Market participants will continue to monitor international bullion prices and other factors that could influence local gold rates in the coming sessions.
