Gold and silver prices fell in both global and Pakistani markets, with gold dropping $49 per ounce internationally. Locally, gold declined by Rs4,900 per tola, while silver also recorded losses.
ISLAMABAD: Gold and silver prices declined in both the international bullion market and Pakistan’s domestic market, according to data released by the All-Pakistan Gems and Jewellers Sarafa Association.
Globally, gold fell by $49 per ounce to settle at $4,788. The drop in international prices was reflected locally, where gold also posted a significant decline.
In Pakistan, the price of gold per tola decreased by Rs4,900 to Rs501,162. Similarly, the rate for 10 grams of gold dropped by Rs4,201 to Rs429,665.
Silver prices also declined in local trading. The per tola rate fell by Rs145 to Rs8,417, while the price of 10 grams dropped by Rs124 to Rs7,216.
Previous session showed gains
The latest downturn followed an increase recorded on Saturday in both international and domestic markets, extending what the All Pakistan Sarafa Gems and Jewellers Association described as a three-day upward trend.
According to the association, gold in the international bullion market had risen by $45 per ounce to $4,837 in the previous session.
In the local market on Saturday, gold prices per tola increased by Rs4,500 to Rs506,062, while the rate for 10 grams rose by Rs3,858 to Rs433,866.
Silver had also posted gains earlier. The per tola price increased by Rs118 to Rs8,562, and the rate for 10 grams rose by Rs101 to Rs7,340.
However, the latest data shows that both gold and silver have reversed those gains, with prices weakening again across international and domestic markets.
The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) noted that domestic gold prices have once again dropped, reflecting ongoing volatility in the bullion market.
Overall, the figures highlight continued fluctuations in precious metals, with local rates closely tracking movements in the international market.
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