Gold prices in Pakistan experienced a significant decline on Monday, mirroring losses in the global bullion market as economic uncertainties and geopolitical tensions intensified worldwide. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of gold per tola decreased by Rs 5,300, settling at Rs 488,362. Similarly, the cost of 10 grams of gold fell by Rs 4,544, reaching Rs 418,691.
This downward movement aligns with a drop in international gold prices, where the precious metal lost $53, closing at $4,660 per ounce, which includes a $20 premium. Analysts attribute this decline primarily to a shift in global investor sentiment, with increased attention toward energy markets as crude oil prices surged amid escalating geopolitical conflicts in the Middle East.
In a significant development, ongoing diplomatic stalemates between the United States and Iran have contributed to heightened volatility across global commodity markets. Investors are closely monitoring the rising crude oil prices and the potential risks of disruptions to international supply chains, especially along critical energy transit routes.
Meanwhile, silver prices in the domestic market remained steady at Rs 8,513 per tola, showing no variation from the previous trading session.
