Pakistan Gold Price Dips Amid Muharram Start

The gold price in Pakistan declined by Rs 1,300 per tola on Monday, ending a four-session upward trend. According to data from the All Sindh Sarafa and Jewellers Association (ASSJA), the new rates settled at Rs 245,100 per tola and Rs 210,134 per 10 grams.

The decline in gold prices is attributed to the onset of Muharram, a period during which demand for gold typically decreases. The ASSJA noted that the current price of gold in Pakistan is Rs 3,500 per tola cheaper compared to prices in Dubai, indicating relative affordability in the Pakistani market.

Silver prices remained stable in Pakistan, holding steady at Rs 2,900 per tola and Rs 2,486.28 per 10 grams. In the global market, gold prices slipped as investors opted to secure profits after a recent surge. Spot gold declined by 0.6% to $2,377.75 per ounce, while US gold futures saw a decrease of 0.5%, settling at $2,385.50 per ounce.