After a steady increase over the past four trading sessions, gold prices in Pakistan experienced a notable drop on Monday, aligning with a decrease in international rates. According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs 1,300, bringing it to Rs 245,100.
Similarly, the price of 10-gram gold saw a decrease of Rs 1,113, settling at Rs 210,134. This downturn contrasts with the recent surge on Saturday, when the price per tola had increased by Rs 2,000.
The international gold market also showed a decline on Monday. The APGJSA reported that the global rate of gold stood at $ 2,376 per ounce, including a $ 20 premium, after losing $ 12 during the trading day.
In contrast, silver prices in the local market remained stable at Rs 2,900 per tola.
It is noteworthy that in April, gold prices in Pakistan reached an all-time high of Rs252,200 per tola. The recent fluctuations in gold prices reflect ongoing volatility in the precious metals market, influenced by global economic conditions and investor sentiment.
