Gold prices in Pakistan fell on Monday after rising for three consecutive sessions. The decline aligned with a decrease in international gold rates. In the local market, the price of gold per tola decreased by Rs600, bringing it to Rs271,900.
Additionally, 10 grams of gold was sold for Rs233,110. This represents a drop of Rs471, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, the price of gold had increased by Rs500, reaching Rs272,500.
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International Market Impact
Meanwhile, the international gold rate also experienced a plunge on Monday. According to APGJSA, the rate was set at $2,617 per ounce, with a premium of $20. This marked a loss of $5 during the day. The decline in both local and international prices reflects the volatile nature of the gold market.
In Pakistan, silver prices remained stable at Rs2,950 per tola. This stability contrasts with the fluctuations seen in gold prices.
Record High on Saturday
Notably, on Saturday, gold prices in Pakistan hit a record high of Rs272,500 per tola. This surge was followed by the subsequent decline, which has left many investors and buyers watching the market closely.
As the market shifts, consumers and jewelers alike will be eager to see if gold prices will rebound or continue to fall. The ongoing fluctuations highlight the impact of international trends on local markets.
Investors are advised to remain cautious as they navigate these changes. Overall, the recent decline serves as a reminder of the unpredictable nature of gold prices in both domestic and international markets.
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