Gold prices declined in Pakistan on Monday, aligning with a downturn in international bullion markets. The domestic market recorded lower rates for both gold and silver as global trends weighed on investor sentiment.
International Gold Market Decline
In the international market, gold prices fell by $24 per ounce to $4,150, triggering a corresponding drop in local prices. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold in Pakistan decreased by Rs2,400 per tola to Rs437,436. Similarly, the price of 10 grams of gold fell by Rs2,058 to Rs375,030.
Silver Prices Also Move Lower
Silver prices followed a similar trajectory, declining in step with global markets. The international price of silver dropped by 37 cents per ounce to $62. Reflecting this trend, the price of silver per tola in Pakistan fell by Rs37 to Rs6,679, while the rate for 10 grams of silver declined by Rs31 to Rs5,726.
Impact on Domestic Market
The decline offers some relief for buyers in Pakistan, where gold prices had remained elevated in recent weeks. However, the drop may also signal global economic uncertainties that continue to influence precious metal markets. The All Pakistan Sarafa Gems and Jewellers Association monitors daily rates, which are closely watched by investors and jewelers alike.
