Gold prices declined in both the international and domestic markets on Monday, with the price of the precious metal in Pakistan falling by Rs2,400 per tola amid weaker global trends.
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According to the latest market data, the price of one tola of gold in Pakistan decreased by Rs2,400 to settle at Rs437,436. The decline follows fluctuations in international bullion prices, which continue to influence local market rates.
The price of 10 grams of gold also registered a significant decrease. It fell by Rs2,058, bringing the new rate to Rs375,030. Gold traders said local prices remained closely linked to movements in the global market as well as changes in the rupee-dollar exchange rate.
Meanwhile, the international gold market also witnessed a decline during trading. The price of gold dropped by $24 per ounce, taking the global rate to $4,150 per ounce.
Analysts said gold prices are influenced by a combination of factors, including global economic conditions, inflation expectations, central bank policies, geopolitical developments and investor demand for safe-haven assets. Any shift in these factors can lead to noticeable fluctuations in bullion prices across international and domestic markets.
In Pakistan, gold prices are revised daily in line with changes in international bullion rates and the value of the local currency. The jewellery market closely monitors these movements, as price changes directly affect consumer demand and trading activity.
Market observers noted that despite the latest decline, gold continues to trade at historically elevated levels compared with previous years. Investors and buyers are expected to keep a close watch on global market developments and upcoming economic data, which could influence the direction of bullion prices in the coming days.
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Traders believe that further changes in international prices or currency movements may continue to impact local gold rates, making daily price updates important for investors, jewellers and consumers planning to buy or sell the precious metal.