KARACHI: Gold prices in Pakistan fell sharply on Monday, tracking weakness in international bullion markets and reflecting the impact of interbank exchange rate movements.
According to figures released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24‑karat gold per tola dropped by Rs.4,900 to settle at Rs.501,162, while 10 grams of 24‑karat gold declined by Rs.4,201 to Rs.429,665. The rate for 22‑karat gold stood at Rs.393,873 per 10 grams, down Rs3,851 from the previous session.
On the global front, international gold prices slipped to $4,788 per ounce, marking a $49 decrease. Analysts attribute the decline to profit‑taking after recent highs and a stronger U.S. dollar, which has weighed on investor demand for the precious metal.
Silver also mirrored the downward trend. The price of 24‑karat silver per tola fell by Rs.145 to Rs.8,417, while 10 grams of silver dropped Rs.124 to Rs.7,216. International silver prices eased to $79.33 per ounce, down $1.45.
Market observers note that the volatility in bullion prices is closely tied to global economic sentiment, currency fluctuations, and geopolitical developments. Jewelers in local markets expect cautious buying in the coming days as consumers and investors await clarity on international price movements.
