KARACHI: Gold prices witnessed a decline in both international and domestic markets on Monday, reflecting a downward trend in precious metals at the start of the business week.
Following the decline in global prices, the local bullion markets also recorded a decrease in gold rates. The price of 24-carat gold per tola dropped by Rs2,300 to Rs428,936.
Similarly, the price of 24-carat gold per 10 grams fell by Rs1,972, settling at Rs367,743.
According to market data, the price of gold in the international bullion market fell by $23 per ounce, bringing the new global rate to $4,065 per ounce.
Silver prices also moved downward in the local market. The price of silver per tola decreased by Rs69 to Rs6,324, while the rate of silver per 10 grams declined by Rs59 to Rs5,421.
Bullion traders attributed the decline in local prices to the reduction in international gold rates and fluctuations in global market trends.
