KARACHI (Dunya News) - Gold prices declined in both international and Pakistani markets on Monday, providing some relief to local buyers after the precious metal’s recent elevated levels.
In the international bullion market, the price of gold fell by $24 per ounce, bringing the new global rate down to $4,406 per ounce.
The decline in international prices was also reflected in Pakistan’s local bullion markets on the first trading day of the week.
The price of 24-karat gold fell by Rs2,400 per tola, settling at Rs463,136 per tola.
Similarly, the price of 10 grams of gold decreased by Rs2,058 to Rs397,064 in the domestic market.
Silver prices also moved lower alongside gold.
The price of silver declined by Rs39 per tola to Rs7,059, while the rate for 10 grams of silver dropped by Rs34 to Rs6,051.
Gold prices in Pakistan generally track movements in the international bullion market, while fluctuations in the rupee-dollar exchange rate can also influence domestic rates.
The latest decline comes after gold prices remained at historically elevated levels, keeping the precious metal under close watch among investors, jewellers and consumers.