KARACHI: Gold prices in Pakistan recorded a sharp decline on Monday, with the price of 24-karat gold falling by Rs5,300 per tola following a drop in international bullion markets.
According to market data released by jewellers, the new price of 24-karat gold settled at Rs488,362 per tola in the local market.
The latest decline follows a relatively smaller decrease recorded on Sunday, when gold prices in Pakistan fell by Rs400 per tola amid a slight decline in global bullion rates, indicating continued volatility in the precious metals market.
Gold prices fall in Pakistan as per tola rate drops by Rs400
The price of 10 grams of gold also dropped by Rs4,544 on Monday, settling at Rs418,961.
In the international market, gold prices declined by $53 per ounce to reach $4,660 per ounce, influencing domestic bullion rates across Pakistan.
Meanwhile, the All Pakistan Sarafa Gems and Jewellers Association said silver prices remained unchanged, with per tola silver trading at Rs8,513.
Gold prices in Pakistan typically fluctuate in line with changes in international markets and currency exchange rates.
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