Gold prices in Pakistan witnessed a significant decline on Monday, mirroring the downward trend in the international market.
According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price per tola of gold dropped by Rs1,200, settling at Rs242,300 in the local market.
The 10-gram gold rate also experienced a notable decrease, reaching Rs207,733 after a decline of Rs943.
International gold prices, as reported by APGJSA, were set at $2,349 per ounce with a $20 premium, marking a $10 decrease over the course of the day.
Meanwhile, silver rates remained steady at Rs2,650 per tola.
This downward trend follows a recent surge in gold prices, with the precious metal reaching an all-time high of Rs252,200 per tola in the local market last month.
Just a day prior to this decline, gold in Pakistan had experienced a decrease of Rs300 per tola, indicating a fluctuating trend in the precious metals market.
Market analysts are closely monitoring the dynamics of the global economy and geopolitical developments to gauge the future trajectory of gold prices, which continue to be influenced by a myriad of factors on both local and international fronts.
