Gold Prices Plummet in Pakistan, Silver Follows Suit

Gold prices in Pakistan's local market have declined significantly on Monday, according to data from the All Pakistan Sarafa Gems and Jewellers Association. The price of 24-karat gold per tola dropped by Rs3,800, settling at Rs453,336. This decline is not isolated to 24-karat gold as 10 grams of 24-karat gold also decreased in value by Rs3,258, reaching Rs388,662.

The price of 22-karat gold, however, fell slightly less with a decrease of Rs2,987 to settle at Rs356,286. The international market has also seen a decline in gold prices, with the price per ounce falling by $38 to $4,308.

Meanwhile, silver prices have also experienced a downturn. The price of silver per tola decreased by Rs122 to Rs6,802, while 10 grams of silver fell by Rs105 to Rs5,831. The international market has seen a decline in silver prices as well, with the price per ounce dropping by $1.22 to $63.23.