Precious Metals See Sharp Decline in Local Market
Gold prices in Pakistan fell sharply on Monday, marking one of the biggest single-day declines in recent weeks.
According to the All Pakistan Sarafa Gems and Jewellers Association, the rate of 24-karat gold dropped by Rs3,600, bringing it to Rs358,800 per tola.
The price of 10 grams of 24-karat gold also slipped by Rs3,086 to Rs307,613, while the same weight in 22-karat gold fell by Rs2,829 to Rs281,988.
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The fall in domestic prices mirrored trends in the international market, where gold declined by $36 to settle at $3,361 per ounce.
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Market watchers suggested that a stronger US dollar and easing global demand contributed to the drop.
Silver rates followed a similar trajectory. The price of 24-karat silver slid by Rs51 to Rs4,013 per tola, while 10 grams dropped by Rs44 to Rs3,440.
On the global stage, silver was recorded at $37.80 per ounce, a decrease of $0.51.
