After three consecutive sessions of rising gold prices, Pakistan witnessed a decline on Monday, mirroring global market trends.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported a Rs600 drop in the per tola gold price, bringing it to Rs271,900. Additionally, the price of 10-gram gold fell by Rs471, settling at Rs233,110.
This decrease follows the recent record high of Rs272,500 per tola, which was reached on Saturday after a Rs500 increase.
Internationally, gold prices also dipped, with the global rate recorded at $2,617 per ounce, reflecting a $5 drop for the day. In contrast, silver prices in the local market remained steady at Rs2,950 per tola.
Gold prices have fluctuated in recent weeks, influenced by international market shifts and changing investor sentiment. The latest drop aligns with global pressures, driven by a stronger U.S. dollar and rising bond yields. Gold continues to be a popular investment in Pakistan, especially during times of economic uncertainty, making its price changes closely watched.
