Gold prices saw a notable decline on Monday, both internationally and locally, following a global downward trend.
In the international market, gold prices fell by $36 per ounce, reaching $3,361. This decrease influenced the domestic market, where gold prices continued to slide.
Locally, the price of 24-karat gold per tola dropped by Rs3,600, closing at Rs358,800. Similarly, the price of 10 grams of gold fell by Rs3,086 to Rs307,613.
Silver prices also experienced a decrease. The price per tola of silver fell by Rs51, now at Rs4,013. The cost of 10 grams of silver went down by Rs44, settling at Rs3,440.
Traders believe the fall in gold prices is linked to changes in global demand and currency fluctuations. Additionally, profit-taking by investors has added pressure to the market.
Market analysts suggest that gold prices may continue to be unstable in the coming days. International economic signals and local buying activity are expected to play key roles in shaping future trends.
Overall, both gold prices and silver rates are responding to broader economic factors, making the market unpredictable for now.
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