The local bullion market was quite bearish on Monday, with the price of 24-karat gold per tola falling significantly by Rs. 1,600 to settle at Rs. 495,362.
This downward trend was reflected across various purities and measurements. The cost of 10 grams of 24-carat gold decreased by Rs. 1,371, closing at Rs. 424,693. Similarly, the rate for 10 grams of 22-carat gold, often used in jewellery, fell by Rs. 1,256 to Rs. 389,316.
The silver market also witnessed a notable decline. The price for a tola of 24-carat silver was reduced by Rs. 130, bringing its new value to Rs. 7,934. In parallel, the rate for 10 grams of 24-carat silver diminished by Rs. 111, reaching a closing figure of Rs. 6,802.
These local price adjustments correspond with a slump in the international markets. The global gold price saw a reduction of $16, concluding at $4,730 per ounce. Likewise, international silver prices experienced a drop of $1.30, settling at $74.50, according to figures released by All Pakistan’s gold rate monitor.