Web Desk: Gold prices fell again on Monday in both international and domestic markets, extending last week’s losses as global bullion rates continued to weaken.
In the global bullion market, gold dropped by $30.94 per ounce at the start of the trading week, bringing the price down to $4,297 per ounce.
The latest decline follows a sharp fall recorded at the close of the previous trading week, when international gold prices had already slid by $124 per ounce.
Reflecting the downward movement in global markets, prices in Pakistan’s local bullion markets also moved lower on Monday.
The price of 24-karat gold per tola declined by Rs3,094, settling at Rs452,233. Similarly, the price of 10 grams of gold fell by Rs2,785 to reach Rs386,987.
On Saturday, local gold prices had already registered a significant drop, with per tola rates falling by Rs12,489 and 10-gram prices declining by Rs11,240.
Silver prices tracked the same downward trend. The price of silver per tola decreased by Rs94 to Rs7,173, while the rate for 10 grams dropped by Rs86 to Rs6,116.
Market observers say bullion rates remain closely tied to fluctuations in international markets, currency movements and broader investor sentiment, factors that continue to shape price trends in the days ahead.
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