Gold prices in Pakistan experienced a notable downturn on Monday, with the cost of 24-carat gold decreasing by Rs3,800 per tola as the trading day concluded. This significant drop brought the price down to Rs453,336 per tola, compared to Rs457,136 previously recorded.

In addition to the 24-carat gold, the price of 10-gram gold also saw a reduction, falling by Rs3,258 to reach Rs388,662. This decline followed a brief increase over the weekend, where gold prices had risen by Rs400 on Saturday, pushing the per-tola price to Rs457,136.

In a significant development, the fall in domestic gold prices closely mirrored a sharp decrease in the international market. Globally, the price of gold dropped by $38, settling at $4,308 per ounce. This international trend played a crucial role in influencing the local market’s downward adjustment.

Meanwhile, silver prices were not immune to the market shifts, as they also declined by Rs122, settling at Rs6,802 per tola. The simultaneous decrease in both precious metals highlights the broader impact of global market fluctuations on Pakistan’s commodities sector.