Gold prices in Pakistan recorded a sharp decline on Monday, tracking a major downturn in international markets where bullion prices dropped significantly.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of gold fell steeply in the local market. The rate of one tola decreased by Rs. 43,500, bringing it down to Rs. 447,762, while the price of 10 grams declined to Rs. 383,883.
The drop follows a volatile trend in recent sessions. On Friday, gold had already fallen to Rs. 491,362 per tola after losing Rs. 8,100 in a single day.
In the global market, gold prices also saw a sharp correction, declining by $436 to around $4,250 per ounce, along with an additional premium. The international slide has directly influenced domestic rates, as local prices are closely linked to global trends and currency movements.
Silver prices also moved downward, with the metal losing Rs. 800 per tola to settle at Rs. 6,884.
Market analysts attribute the sudden drop to shifting global sentiment and volatility in financial markets, as investors reassess positions following recent geopolitical and economic developments.
