Gold prices started the new week on a weaker note, extending their recent downward trend in both local and international markets. The price of 24-karat gold dropped by Rs2,400 per tola on Monday, providing some relief to buyers after the precious metal traded near record highs in recent weeks.
According to the latest market rates, the price of 24-karat gold declined to Rs437,436 per tola, while the price of 10 grams of gold fell by Rs2,058 to Rs375,030. The latest decline follows Friday’s losses, when gold had already slipped by Rs1,100 per tola, closing at Rs439,836.
New Gold Rates Today:
- Gold (Per Tola): Rs437,436
- Gold (10 Grams): Rs375,030
- International Gold: $4,150 per ounce
- Silver (Per Tola): Rs6,679
The decline in Pakistan’s bullion market reflects a similar trend in international markets. Global gold prices fell by $24 per ounce, bringing the benchmark rate to $4,150 per ounce, including a $20 premium. The drop is largely attributed to softer investor sentiment in the global precious metals market.
Silver prices also moved lower in the domestic market. The price of one tola of silver decreased by Rs37, settling at Rs6,679, continuing the broader decline seen across precious metals.
Pakistan’s gold market closely tracks international bullion prices, with global demand, investor confidence, currency movements, and exchange rates playing a significant role in determining local prices. While the latest decline offers temporary relief for consumers and jewellery buyers, future price movements will continue to depend on developments in the international market.
Also read: Big Increase in Gold Prices in Pakistan
