Gold prices in Pakistan dropped sharply on Monday, with the per tola rate falling by Rs6,500 to Rs533,362, reflecting a decline in international bullion markets.

According to data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of gold also declined by Rs5,573, settling at Rs457,271 in the local market.

The drop in domestic prices followed a notable decrease in global gold rates. In the international market, gold fell by $65 per ounce, bringing the price down to $5,106.

Also Read: Gold rebounds in Pakistan as per tola price jumps Rs6,100 after four-day slide

Market analysts say local gold prices in Pakistan typically move in line with global bullion trends, along with fluctuations in the exchange rate.

Meanwhile, silver prices also recorded a slight decline in the domestic market. The price of silver decreased by Rs37, reaching Rs8,894 per tola.

Gold prices in Pakistan are closely watched by investors, jewellers and consumers, as they often reflect changes in global commodity markets and currency movements.