Gold price falls Rs2,400 per tola in Pakistan

Gold prices in Pakistan declined on Monday, following a drop in international gold rates. The local gold price fell Rs2,400 per tola to Rs463,136. The decline came as global gold prices also moved lower during the session. According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association, gold prices decreased locally. Ten-gram gold fell Rs2,058 to Rs397,064. The latest figures reflected the movement in international gold prices. International gold prices dropped by $24 per ounce during the day. The global rate reached $4,406 per ounce following the decline. Local gold prices generally move in response to changes in international market rates. The latest decrease came after another fall recorded during the previous trading session. On Saturday, gold prices in Pakistan stood at Rs465,536 per tola. The price had declined by Rs3,600 during that session. Gold prices have therefore recorded consecutive declines in recent trading sessions. Monday's reduction followed the previous fall of Rs3,600 per tola. The latest movement brought the local rate further below Saturday's level. Meanwhile, silver prices also declined in the domestic market on Monday. The price of silver fell Rs39 per tola to Rs7,059. The decrease affected another major precious metal traded in Pakistan. The latest rates showed continued weakness in precious metals during Monday's trading. Gold reached Rs463,136 per tola after the latest reduction. International gold also remained lower at $4,406 per ounce following its $24 decline.