Gold prices in Pakistan declined on Monday, tracking losses in the international bullion market as investors continued to assess heightened geopolitical tensions in the Middle East.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold dropped by Rs3,800 per tola to Rs429,736. The price of 10 grams of 24-karat gold decreased by Rs3,258 to Rs368,429, while 10 grams of 22-karat gold fell by Rs2,987 to Rs337,738.
International gold prices slipped by $38 to $4,073 per ounce, reflecting weaker sentiment in the global bullion market.
Silver prices also moved lower. The association said the price of silver per tola declined by Rs123 to Rs6,339, while 10 grams of silver fell by Rs106 to Rs5,434. In global markets, silver prices eased by $1.23 to $58.60 per ounce.
The decline in precious metals came as market participants closely monitored developments in the Middle East. Fresh attacks were reported in Iran and Kuwait on Sunday, while tensions between Tehran and Washington remained elevated over the Strait of Hormuz, with conflicting claims regarding whether the strategic shipping lane remained fully operational.