Gold prices witnessed a significant decline across Pakistan on Monday, in line with falling international bullion rates and interbank exchange adjustments, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.
As per the latest update, the price of 24-karat gold per tola fell by Rs21,500, settling at Rs490,362, while the price of 10 grams of 24-karat gold dropped by Rs18,433 to Rs420,406. Similarly, 10 grams of 22-karat gold declined by Rs16,897, reaching Rs385,386.
On the international market, gold prices also registered a notable decrease, shedding $215 per ounce to stand at $4,676.
Silver prices followed the same downward trend. The price of 24-karat silver per tola decreased by Rs601 to Rs8,405, whereas 10 grams of silver fell by Rs516 to Rs7,205. International silver prices dropped by $6.01, closing at $79.30 per ounce.
The association stated that the local gold and silver rates are based on interbank exchange rates and maintain a purity standard of 999 (24K).
Market analysts attribute the sharp fall to corrections in global commodity markets and fluctuations in currency values, advising investors and buyers to closely monitor trends amid ongoing volatility.
