Gold prices in Pakistan dropped sharply on Monday, tracking losses in global markets. The decline lowers costs for buyers but signals volatility for investors and traders. Jewellers, consumers, and investors across the country are directly affected by the price shift.
Gold prices in the local market fell by Rs3,800 per tola, reaching Rs479,962, according to official rates. Similarly, the price of 10 grams of gold declined by Rs3,257 to settle at Rs411,490. The decrease reflects a broader downward trend influenced by international market movements.
Read more: Gold rate falls by Rs200 per tola in Pakistan
Meanwhile, the global gold rate dropped by $38 per ounce, settling at $4,576 with a $20 premium. Analysts link the decline to changing investor sentiment and fluctuations in international demand. As a result, domestic prices adjusted accordingly, maintaining parity with global benchmarks.
Previously, gold prices showed a minor decrease on Saturday, when per tola rates fell by Rs200 to Rs483,762. However, Monday’s sharper drop indicates increased pressure on the precious metals market. Market participants continue to monitor global cues for further direction.
Read more: Gold prices dip slightly while silver records increase in market
In addition to gold, silver prices also recorded a decline in the local market. The price of silver dropped by Rs100 per tola, reaching Rs7,914. These changes provide some relief for buyers but highlight ongoing market uncertainty.