After increasing in the previous session, gold prices in Pakistan declined significantly on Monday in line with their decrease in international rates. In the local market, the price of gold per tola was down by Rs4,300 to clock in at Rs278,400.
Similarly, 10-gram gold was sold at Rs238,683 after it recorded a decrease of Rs3,657, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
On Saturday, gold price per tola increased by Rs2,200 to settle at Rs282,700.
The international rate of gold decreased on Monday. As per APGJSA, the rate was $2,672 per ounce (with a premium of $20) and was down by $43 during the day.
Silver prices lowered by Rs50 to settle at Rs3,400 per tola.
Last month, gold hit an all-time high of Rs287,900 per tola in Pakistan.
Internationally, gold prices eased on Monday from a three-week high hit earlier in the session as investors booked profits and traders adjusted their expectations for Federal Reserve rate cuts, awaiting further data to assess the interest rate outlook.
Spot gold fell 0.6% to $2,695.79 per ounce as of 0246 GMT.
US gold futures shed 0.5% to $2,697.90.
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