KARACHI: Gold prices recorded a sharp decline in Pakistan on Monday, tracking losses in international markets and bringing relief to buyers after recent fluctuations in precious metal rates.
According to the All Pakistan Sarafa Association, the price of 24-karat gold per tola dropped by Rs4,400, settling at Rs471,762 in the local bullion market. The decline reflects a broader downward trend in global gold prices during the latest trading session.
The price of 10 grams of 24-karat gold also decreased by Rs3,773, reaching Rs404,459.
International gold market weakens
Gold prices moved lower in international markets as well. The price of gold per ounce fell by $44, bringing it down to $4,494.
Market observers often track international bullion prices closely, as changes in global rates directly influence gold prices in Pakistan.
Silver prices move higher
While gold registered losses, silver continued its upward trend.
The price of 24-karat silver increased by Rs46 per tola, taking the new rate to Rs8,059 in the local market.
The latest trading session reflects diverging trends in precious metals, with gold losing value both domestically and internationally, while silver posted gains.
Also Read: Gold prices climb in Pakistan as local, global markets move higher
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