Gold and silver prices in Pakistan recorded a noticeable decline on Monday after a brief increase earlier in the week, reflecting a similar downward trend in international bullion markets. The drop brought relief to buyers and traders who closely monitor fluctuations in precious metal prices. Market analysts say such movements often occur due to changes in global demand and currency dynamics. Consequently, local jewellery markets witnessed a calmer trading environment following the recent price correction.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped significantly by Rs4,900, bringing the new market rate to Rs501,162. This notable reduction came after a previous surge that had pushed gold prices to record levels in the country. Traders explained that international market adjustments directly influenced local bullion prices. Therefore, domestic rates quickly responded to global market shifts.
Read more : Gold price drops Rs1,000 per tola in Pakistan –
Similarly, the price of 10 grams of 24-karat gold also witnessed a sharp decline of Rs4,201, settling at Rs429,665 in the local market. Meanwhile, the price of 10 grams of 22-karat gold fell by Rs3,851, reaching Rs393,873. Jewellery dealers noted that these changes often influence consumer buying patterns across the country. As a result, many buyers wait for price drops before making purchases for weddings and investment purposes.
The downward trend was not limited to Pakistan, as the international bullion market also recorded a moderate decrease in gold prices during the same trading session. Globally, gold declined by $49 per ounce and settled at $4,788. Experts explained that international price adjustments frequently affect domestic markets due to Pakistan’s reliance on imported gold. Consequently, any global shift quickly reflects in local trading rates.
Read more : Gold prices fell sharply in Pakistan amid global market volatility
Meanwhile, silver prices in Pakistan followed the same declining pattern alongside gold during the latest market update. The price of 24-karat silver per tola decreased by Rs145, bringing the new rate to Rs8,417. Similarly, the price of 10 grams of silver also dropped, settling at Rs7,216. Traders say such fluctuations remain common in the precious metals market as global economic conditions continue to evolve.
Overall, market observers believe that gold and silver prices may continue to fluctuate in the coming days depending on international economic signals and currency trends. Investors often view precious metals as a safe asset during uncertain times. However, short-term price corrections frequently occur as global markets respond to shifting supply, demand, and economic expectations.