KARACHI: Gold prices witnessed a decline in Pakistan on Monday after international bullion rates moved lower, affecting local market sentiment.
According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in local markets decreased by Rs2,200 per tola.
Following the decline, the price of one tola of gold was fixed at Rs473,162. Similarly, the rate for 10 grams of gold dropped by Rs 1,886 and settled at Rs405,660.
Market data showed that on the previous trading day, gold had remained stable at around Rs475,362 per tola before international prices started easing.
In the global market, gold prices declined by $22 per ounce and settled at $4,508 per ounce, including a premium of $20.
Unlike gold, silver prices remained unchanged in the domestic market, with one tola of silver holding steady at Rs8,034.
Market analysts noted that local gold prices generally move in line with international trends, and fluctuations in global bullion markets continue to influence domestic rates.
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