KARACHI: The gold prices in Pakistan recorded a sharp decline on Monday, with the price of gold falling by Rs5, 500 per tola, according to the All Pakistan Gems and Jewellers Association (APGJA).
The association said the per tola price of gold dropped to Rs470, 162 across the country. Likewise, the price of 10 grams of gold decreased by Rs4, 715 to Rs403, 088.
Meanwhile on December 23, in the international market, gold prices also saw a notable drop, falling by $55 to $4,478 per ounce.
The decline reflects ongoing fluctuations in global bullion markets.
Earlier, gold prices surged to record highs in both international and domestic markets, driven by continued investor interest and global economic uncertainty.
According to All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola increased by Rs8,500, reaching Rs470,862, while price of 10 grams of 24-karat gold increased by Rs7,288 to Rs403,688.
Additionally, In the international market, gold prices surge by $85 to $4,485 per ounce.
Meanwhile, the price of silver per tola remained unchanged at Rs7,205.
Experts say the local gold market may stay unstable in the next few days, as prices usually move in line with international trends and investor behavior. This situation is keeping buyers and traders alert as they wait to see how prices change.
Gold is known worldwide as both a valuable investment and a popular metal for making jewellery. Because it is traded globally, its price is affected by many economic and political factors. In general, gold prices depend on a mix of global financial conditions, investor confidence, and actual demand in the market.
