Gold prices continued their downward trend on Monday in both international and domestic markets, extending losses from the previous trading session amid weakness in the global bullion market.
International Market Decline
In the international bullion market, the price of gold declined by $30.94 per ounce to $4,297 on the first trading day of the week.
Domestic Market Impact
Following the global trend, the domestic bullion market also recorded a decline. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola fell by Rs3,094 to Rs452,233. Similarly, the price of 10 grams of gold dropped by Rs2,785 to Rs386,987.
Silver Prices Also Fall
Silver prices also moved lower. The price of silver per tola decreased by Rs94 to Rs7,173, while the price of 10 grams of silver fell by Rs86 to Rs6,116.
Previous Session Losses
The latest decline came after gold prices also fell sharply during the previous trading session. On Saturday, international gold prices dropped by $124 per ounce, while in the local market, the price of gold declined by Rs12,489 per tola and Rs11,240 per 10 grams. Silver prices also recorded losses during Saturday's trading session.
