Gold price drops by Rs1,100 per tola in Pakistan amid global decline

ISLAMABAD: Gold prices in Pakistan continued their downward trend on Monday, mirroring a decline in international rates. The price of gold per tola in the local market dropped by Rs1,100, bringing it down to Rs260,400, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold also saw a reduction, decreasing by Rs943 to settle at Rs223,251. This decline follows a previous drop on Saturday, where the gold price fell by Rs2,000, closing at Rs261,500 per tola.

On the international front, gold prices also experienced a dip on Monday. The APGJSA reported that the international rate of gold was $2,490 per ounce, which included a $20 premium, marking a decrease of $7 during the day.

Meanwhile, silver prices in the local market remained stable at Rs2,850 per tola.

Last month, gold prices in Pakistan had reached an all-time high of Rs263,700 per tola, reflecting the volatility in the market.