Local Bullion Market Mirrors International Trend
Gold prices continued their downward trajectory in Pakistan on Monday, tracking losses in the international bullion market and providing some relief to buyers after weeks of sharp fluctuations.
According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola fell by Rs3,094, bringing the new rate to Rs452,222. Likewise, the price of 10 grams of gold declined by Rs2,785 to settle at Rs386,987.
The latest decrease follows a significant drop recorded on Saturday, when the price of gold per tola plunged by Rs12,489 to reach Rs455,327. As a result, the precious metal has shed considerable value over the past two trading sessions.
Market analysts attributed the decline primarily to weakness in international gold prices, which continue to influence domestic rates. Consequently, local bullion traders adjusted prices in line with global market movements.
Silver Also Registers Losses Amid Market Adjustment
Meanwhile, international gold prices also moved lower during the latest trading session. The global rate declined by $30 per ounce, bringing the price to $4,297 per ounce, including a premium of $20.
Experts noted that easing demand, profit-taking by investors, and changing market sentiment contributed to the decline in international bullion prices. Furthermore, fluctuations in global financial markets continue to affect precious metal valuations worldwide.
Silver prices also recorded losses in the local market. The price of silver per tola dropped by Rs94, settling at Rs7,173. The decline reflected the broader trend observed across precious metals as investors reassessed market positions.
Jewellers and traders said consumers remain cautious despite the recent decrease, as gold prices continue to trade near historically elevated levels. However, some buyers may view the correction as an opportunity to enter the market ahead of future price movements.
Market participants will now closely monitor international developments, currency trends, and investor sentiment, as these factors are expected to determine the direction of gold and silver prices in the coming days.
