ISLAMABAD, May 4: Gold prices in Pakistan fell sharply on Monday, with 24-karat gold dropping by Rs3,800 per tola to Rs479,962, extending losses from the previous session amid a decline in global bullion markets.
A day earlier on May 3, gold had already slipped by Rs200 per tola to Rs483,762, indicating a continued downward trend influenced by international price movements.
Gold dips in Pakistan as silver prices jump in local market
Continued decline in local gold rates
In the domestic market, the price of 10 grams of 24-karat gold fell by Rs3,257 to Rs411,490, compared to Rs414,747 recorded in the previous session. Similarly, 22-karat gold declined to Rs377,212 per 10 grams.
Market data shows that local prices are closely tracking global trends, with back-to-back declines reflecting external pressures.
Silver prices also ease
Silver prices also moved lower in the local market. The per tola rate dropped by Rs100 to Rs7,914, while 10 grams of silver decreased by Rs86 to Rs6,784.
Global market impact
In the international market, gold fell by $38 to $4,576 per ounce, compared to $4,614 per ounce a day earlier. Silver also declined by $1 to $74.30 per ounce.
The back-to-back drop in global prices has continued to weigh on domestic bullion rates.
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