Gold falls to Rs452,233 per tola as global bullion market weakens

ISLAMABAD: Gold prices declined again in both international and domestic markets on Monday, extending losses from the previous trading session as the global bullion market remained under pressure.

In the international market, gold fell by $30.94 per ounce to $4,297 on the first trading day of the week. Following that trend, the domestic bullion market also moved lower.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola dropped by Rs3,094 to Rs452,233. The rate for 10 grams of gold also fell by Rs2,785 to Rs386,987.

Silver prices also registered a decline. Per tola silver fell by Rs94 to Rs7,173, while the price of 10 grams of silver was down Rs86 to Rs6,116. The latest fall came after a sharp decline on Saturday, when international gold prices had dropped by $124 per ounce, while local gold prices fell by Rs12,489 per tola and Rs11,240 per 10 grams. Silver had also posted losses in Saturday’s session.