Gold prices declined once again in Pakistan on Monday, mirroring a fresh downturn in international bullion markets during the first trading session of the week.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola dropped by Rs. 2,300, bringing the new rate down to Rs. 428,936.
The price of 10 grams of gold also recorded a notable decrease. It fell by Rs. 1,972 to settle at Rs. 367,743, reflecting continued volatility in both domestic and global markets.
Recent Price Movement
The latest decline follows a drop recorded over the weekend. On Saturday, gold prices had already fallen by Rs. 1,000, closing at Rs. 431,236 per tola, indicating sustained downward pressure.
International Market Impact
In the international market, gold prices also moved lower. Bullion lost $23 per ounce, settling at $4,065, as investors reacted to shifting global economic signals and market sentiment.
Silver Prices Also Decline
Silver prices followed a similar trend in Pakistan. The price of silver per tola decreased by Rs. 69 on Monday, settling at Rs. 6,324.
Market Outlook
Market analysts note that local gold prices remain highly sensitive to international movements and currency fluctuations. Traders expect further volatility in the coming days as global investors assess interest rate expectations, inflation data, and geopolitical developments.
For consumers and investors alike, the continued fluctuations highlight the importance of closely tracking both domestic and international market trends before making buying or selling decisions.
