The gold price in Pakistan continued its downward trend on Monday, with the price of gold falling by Rs2,700 per tola in the local market.

According to the All Pakistan Sarafa Gems and Jewellers Association, the gold price fell to Rs457,536 per tola after the latest decline. The movement followed a drop in international gold prices.

The latest reduction adds to recent fluctuations in the domestic bullion market, where gold rates have been changing in response to movements in global prices and other market factors.

10-gram gold rate also falls

The price of 10 grams of gold also decreased by Rs2,315. After the reduction, the 10-gram gold rate reached Rs392,263.

The latest figures are being closely followed by buyers and sellers as gold remains one of the most watched commodities in Pakistan. Daily changes in international bullion prices can have a direct impact on local gold rates.

International gold price declines

In the international market, the gold price fell by $27 to reach $4,350 per ounce. The decline in the global market was reflected in Pakistan’s domestic bullion prices.

Market reports commonly track international gold rates, local Sarafa prices and currency movements when assessing daily changes in gold prices.

Silver price remains unchanged

Meanwhile, the silver price in Pakistan remained stable. The price of silver stood at Rs7,100 per tola, with no change recorded in the latest update.