Gold prices in Pakistan fell on Monday after a three-day upward trend characterized by strong market interest. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of gold per tola decreased by Rs1,800. This significant drop brings the current price down to Rs338,800 in the local market as traders adjust to changing economic conditions.
Similarly, the price for 10 grams of gold also dropped, decreasing by Rs1,543. The new rate for 10 grams is now recorded at Rs290,466. This decline follows a recent record high of Rs340,600 per tola, reached only three days earlier, highlighting the volatile nature of the gold market.
In line with local trends, international gold prices also experienced a decline. The APGJSA reported that the global gold rate is now at $3,218 per ounce, which includes a $20 premium. This reflects an $18 decrease in the international market, influenced by various global economic factors, including currency fluctuations and investor behavior.
Meanwhile, silver prices remained stable in Pakistan, providing some relief for local traders. The rate for silver stayed constant at Rs3,234 per tola. This stability contrasts with the rapidly fluctuating prices in the gold market, suggesting a quieter demand for silver among consumers and investors.