After three consecutive sessions of increase gold prices in Pakistan witnessed a decline on Monday following a drop in international market rates.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs600, bringing it down to Rs271,900. Similarly, the price of 10-gram gold decreased by Rs471, settling at Rs233,110.
The drop comes after gold reached a record high of Rs272,500 per tola on Saturday when prices increased by Rs500.
In the international market, gold rates also plunged. As per APGJSA, the global rate was recorded at $2,617 per ounce with a $20 premium, marking a loss of $5 on the day.
Meanwhile, silver prices in the local market remained unchanged, holding steady at Rs2,950 per tola.
Gold prices have been volatile in recent weeks, largely driven by international market fluctuations and investor sentiment shifts. The decline on Monday reflects the global trend, where gold experienced pressure due to the strengthening of the U.S. dollar and bond yields.
Gold remains a key investment for many in Pakistan, particularly during economic uncertainty, making its price fluctuations a matter of widespread interest.
