Gold prices in Pakistan fell on Monday, following a similar trend in the global market. The price per tola dropped by Rs700, bringing it down to Rs362,300, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Along with this, the price of 10 grams of gold also decreased by Rs600. It now stands at Rs310,613. The fall comes just two days after a sharp rise on Saturday, when the per tola price increased by Rs1,500.
The decline was largely driven by falling international gold rates. On Monday, the global price of gold stood at $3,414 per ounce, with a $20 premium. This marks a drop of $18 from the previous rate, adding pressure on local prices.
Despite the drop in gold rates, the price of silver remained unchanged. In Pakistan, silver was stable at Rs3,787 per tola, showing no movement during the trading session.
Gold prices are often influenced by changes in the international market, currency rates, and investor sentiment. While the decline offers some relief to buyers, experts suggest prices could continue to fluctuate based on global economic trends.