KARACHI – Gold prices saw a sharp drop in Pakistan on Monday, mirroring a downward trend in the international bullion market.
Globally, gold lost $36 per ounce, bringing the international rate to $3,361. This fall directly impacted local rates, with 24-karat gold per tola slipping by Rs3,600 to Rs358,800.
The price of 10 grams of 24-karat gold also fell by Rs3,086, settling at Rs307,613. Silver prices moved in the same direction, with per tola rates dropping by Rs51 to Rs4,013, and 10 grams down by Rs44 to Rs3,440.
Market insiders attribute the decline to shifting global demand, currency fluctuations, and profit-taking by investors. Analysts anticipate continued volatility in the precious metals market in the days ahead, influenced by international economic trends and local buying activity.
