Gold Prices Drop Sharply in Pakistan
Gold prices in Pakistan recorded a significant decline on Monday, reflecting a downward trend in international markets, according to data released by the All Pakistan Sarafa Gems and Jewellers Association.
The price of 24-karat gold per tola fell by Rs4,900 to settle at Rs501,162. Similarly, the rate of 24-karat gold per 10 grams declined by Rs4,201 to Rs429,665.For 22-karat gold, the price of 10 grams dropped by Rs3,851 to Rs393,873, indicating broad-based weakness across purity categories.
International Market ImpactIn the global market, gold prices also moved lower, falling by $49 to $4,788 per ounce, contributing to the domestic decline as local rates are linked to interbank exchange rates.Silver Prices Follow TrendSilver prices mirrored the downward trend:
Silver per tola decreased by Rs145 to Rs8,417
Silver per 10 grams dropped by Rs124 to Rs7,216
In international markets, silver prices declined by $1.45 to $79.33.
The latest rates are based on interbank exchange levels, with gold purity benchmarked at 999 (24K). The decline suggests easing pressure in precious metals markets, offering short-term relief to buyers after recent highs.
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