Gold and silver prices continued their downward trend for the third straight day on Monday, registering sharp declines in both international and domestic markets. The persistent fall has brought some relief to buyers after weeks of record highs.
In the global bullion market, gold prices dropped significantly, with the rate per ounce falling by $215 to settle at $4,676. The sharp decline in international prices directly affected the local market in Pakistan, where gold rates also moved lower.
According to market reports, the price of gold per tola decreased by Rs21,500, bringing the new rate down to Rs490,362. Similarly, the cost of 10 grams of gold saw a drop of Rs18,433, settling at Rs420,406. Traders linked the fall to weakening global demand and fluctuations in the international market.
Silver prices also followed the same downward pattern. The rate per tola of silver declined by Rs601, reaching Rs8,504, while the price for 10 grams fell by Rs516 to Rs7,205. The continued slide in silver rates further reflected the broader weakness in precious metals.
The recent dip comes after notable losses recorded over the weekend as well. On Saturday, gold prices per tola had already fallen by Rs25,500, bringing the rate down to Rs511,862. During the same day, the price of 10 grams of gold dropped by Rs21,862, settling at Rs438,839.
Market analysts suggest that ongoing volatility in global bullion markets may keep prices unstable in the coming days, leaving investors and buyers closely monitoring further changes.
Also Read: Gold and Silver Prices Drop Sharply, Markets Turn Volatile
