Gold prices in Pakistan slipped sharply on Monday following a decline in international bullion rates.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-carat gold fell by Rs 1,400 per tola, bringing it down to Rs 444,900.
In the local market, the price of 10 grams of 24-carat gold decreased by Rs 1,200, settling at Rs 381,430. Similarly, 10 grams of 22-carat gold were sold at Rs 349,656, down by Rs 1,100 compared to the previous day.
On the international front, gold dropped by $17, reaching $4,235 per ounce, reflecting a consistent downward trend driven by strengthening global currencies and cautious investor sentiment.
Silver also declines
Silver prices followed suit, recording modest declines. Silver per tola fell by Rs 12 to Rs 5,261, while 10 grams of silver dropped by Rs 10 to Rs 4,510.
In the global market, international silver prices fell by $0.26 to $51.60 per ounce.
Analysts note that fluctuations in the interbank exchange rate and uncertainty in global demand continue to impact precious metal prices in Pakistan. Investors are expected to watch both currency movements and international gold market trends closely in the coming days.
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