Gold prices further declined on Monday in both international and local markets in Pakistan, as technical corrections and profit-taking activities reversed the recent upward trend in bullion rates.
In Pakistan’s local market, the price of 24-carat gold dropped by Rs1,600 per tola, settling at Rs347,100. Likewise, the price of 10 grams of gold fell by Rs1,368, bringing it down to Rs297,582, in line with the downward movement seen in the global market.
Internationally, gold prices fell by $16 per ounce, with the rate reaching $3,289, according to market reports.
In contrast, silver prices remained steady. The price of silver held firm at Rs3,497 per tola, while 10 grams of silver maintained a rate of Rs2,998.
Market analysts attributed the dip to profit-booking at higher levels following gold’s recent rally. While gold continues to serve as a safe-haven asset amid global economic uncertainties, they expect short-term volatility to persist due to investor activity and technical market adjustments.
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