Gold prices decline in Pakistan

Gold prices in Pakistan declined on Monday, following five consecutive days of increases, in line with a drop in international rates.

The price of gold per tola in the local market fell by Rs1,500, settling at Rs279,300. The cost of 10 grams of gold also decreased by Rs1,286, bringing it to Rs239,455, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Saturday, the price of gold had risen by Rs1,400, reaching Rs280,800 per tola.

Internationally, gold prices also saw a reduction on Monday, with the price recorded at $2,675 per ounce, a decrease of $15 from the previous day, while a premium of $20 was applied.

Silver prices in Pakistan remained unchanged at Rs3,350 per tola.

Globally, the stability in gold prices was attributed to a stronger-than-expected US jobs report, which reinforced the Federal Reserve’s cautious stance on rate cuts.

Additionally, ongoing uncertainties regarding the incoming Trump administration’s policies continued to bolster safe-haven demand for gold.