Gold prices in Pakistan experienced a decline on Monday, with the cost of 24-karat gold dropping by Rs2,700 per tola. The All-Pakistan Gems and Jewellers Sarafa Association reported that the price per tola fell to Rs457,636 from Rs460,336 recorded on Friday, a day when gold had surged by Rs6,900.
Similarly, the price for 10 grammes of 24-karat gold decreased by Rs2,315, settling at Rs392,348. The price of 10 grammes of 22-karat gold also saw a reduction, although specific figures were not provided by the association.
On the international front, gold prices declined by $27 to reach $4,350 per ounce on Monday, reflecting a global downward trend. This international movement contributed to the fluctuating domestic market.
Gold prices in Pakistan have shown high volatility in recent sessions. On Friday, the price of a tola rose sharply by Rs6,900 to Rs460,336, following a Rs3,800 drop on Thursday that had lowered the price to Rs453,436. This Thursday decline came after a significant Rs7,900 increase the previous day.
Prior to Wednesday’s sharp rally, gold prices had fallen by Rs7,800 over two sessions, underscoring the substantial fluctuations in the local bullion market. On Friday, 10 grammes of 24-karat gold were priced at Rs394,663, while 22-karat gold stood at Rs356,364 per 10 grammes.
The latest decrease means the price of a tola of gold is now Rs4,200, or approximately 0.9 percent, lower than Thursday’s level of Rs461,836. This calculation is based on the Friday increase of Rs6,900 and the prior Thursday decline of Rs3,800 from Wednesday’s price, highlighting the ongoing instability in gold pricing.
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