KARACHI: Gold prices in Pakistan saw a significant drop on Monday, following a fall in the international market. The price of gold per tola decreased by Rs10,400, settling at Rs340,500. In the 10-gram category, gold was priced at Rs291,923, marking a reduction of Rs8,917, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This decline follows a Rs1,800 drop in the gold price on Friday, when it had reached Rs350,900 per tola. The international market also experienced a fall in gold prices, with the rate of gold per ounce decreasing by $104, settling at $3,221, including a premium of $20.
In addition to the drop in gold prices, silver prices also saw a slight decrease. The price of silver per tola fell by Rs17, bringing it down to Rs3,400.
Market analysts attribute the decrease in local gold prices to the global market trends, with fluctuations in the international economy affecting precious metal prices. These changes in gold and silver prices impact consumer buying behavior and the jewelry industry in Pakistan.
