Gold prices in Pakistan recorded a decline on Monday, reflecting a downward trend in the international bullion market and easing slightly after recent fluctuations.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs1,800 to settle at Rs522,762 in the local market. Similarly, the price of 10 grams of gold decreased by Rs1,543, bringing it down to Rs448,184.
Read More: Gold prices decrease by Rs 8,700 per tola
The decline follows a sharp drop observed over the weekend, when gold prices had already fallen significantly. On Saturday, the per tola rate stood at Rs524,562 after a single-day decrease of Rs8,700, indicating continued volatility in the precious metals market.
The downward movement in domestic prices comes in line with trends in the global market, where gold prices slipped by $18 per ounce to reach $5,000, including a premium of $20. Analysts say international market dynamics, including shifts in investor sentiment and currency fluctuations, are contributing to the recent softening of gold prices.
Market experts note that gold prices in Pakistan are closely tied to global rates, as well as the rupee-dollar exchange rate. Any changes in these factors tend to directly impact local bullion prices, often leading to rapid adjustments in domestic markets.
Read More: Gold and silver prices drop for fourth consecutive day in Pakistan
In addition to gold, silver prices also witnessed a decline in the local market. The price of silver per tola dropped by Rs100, settling at Rs8,441, further reflecting the broader trend in precious metals.
Despite the recent dip, traders remain cautious, as global uncertainties and economic conditions continue to influence price movements. Investors and buyers are closely monitoring trends to assess whether the decline signals a temporary correction or a longer-term shift.