Gold prices in Pakistan experienced a significant decline on Monday, mirroring a steep drop in the international market. The price of gold per tola fell to Rs 490,362, down Rs 21,500 compared to the previous day, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, 10-gram gold was traded at Rs 420,406, showing a decrease of Rs 18,433. On Saturday, gold had already declined by Rs 25,500, bringing the per tola rate to Rs 511,862.

The sharp local drop reflects a massive fall in international gold rates, which decreased by $215, reaching $4,676 per ounce. An additional premium of $20 was also applied in the market.

Silver prices in Pakistan also faced a downturn, dropping Rs 601 to Rs 8,405 per tola, following trends in global silver markets. Analysts say the decline in gold is linked to a stronger US dollar and fluctuations in global investment demand for precious metals.

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Traders have advised buyers and investors to monitor international trends carefully, as the market remains volatile and prices may continue to fluctuate in the coming days. The current drop has created both buying opportunities for investors and challenges for local jewellers adjusting to the sudden fall.

Experts also warn that global factors such as interest rate expectations, economic data, and geopolitical tensions could continue to impact gold prices in Pakistan in the short term.