Gold prices fall in Pakistan as global bullion weakens

KARACHI: Gold prices in Pakistan fell on Monday, tracking losses in international bullion markets, while silver also declined, according to local market data.

The price of 24-karat gold dropped by Rs1,600 per tola to Rs495,362, extending a downward trend seen in the previous trading session.

The price of 10 grams of gold declined by Rs1,371 to Rs424,693, reflecting continued volatility in the precious metals market.

In the international bullion market, gold prices fell by $16 per ounce on the first trading day of the week, bringing the global rate to $4,730 per ounce.

Analysts said the decline followed a similar pattern seen in the previous week’s final trading session, when gold also recorded losses, indicating sustained pressure on bullion prices.

Silver prices also eased in domestic trading, mirroring global movements, though detailed local silver figures were not immediately available.

Market participants attributed the soft trend to ongoing fluctuations in global demand and profit-taking after recent highs in bullion markets.