Domestic bullion rates decline in line with a $18 drop in international gold prices
KARACHI: Gold prices in Pakistan declined by Rs1,800 per tola on Monday, as rising geopolitical tensions and concerns over global inflation weighed on the international bullion market.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold fell to Rs466,136 per tola, compared with the previous closing of Rs467,936.
The price of 24-karat gold also decreased by Rs1,543 per 10 grams, falling to Rs399,636 from Rs401,179 in the domestic market.
Bullion market experts attributed the decline in local gold prices to heightened geopolitical tensions and growing concerns over an uptick in global inflation.
International gold prices decline
In the international market, gold prices dropped by $18 per ounce, settling at $4,436, compared with the previous closing of $4,454 per ounce.
The decline in international bullion prices was reflected in domestic rates, with Pakistan’s gold market continuing to track movements in global precious metals prices.
Market participants are also monitoring geopolitical developments and inflation expectations, which can influence investor demand for gold and contribute to fluctuations in bullion prices.
The movement in international gold prices, along with developments in global markets, is expected to remain a key factor influencing domestic gold rates in Pakistan.
Gold prices in Pakistan
| Gold category | Previous price | New price | Change |
| 24-karat gold per tola | Rs467,936 | Rs466,136 | -Rs1,800 |
| 24-karat gold per 10 grams | Rs401,179 | Rs399,636 | -Rs1,543 |
| International gold per ounce | $4,454 | $4,436 | -$18 |