Gold prices fell significantly in global and local markets on Monday due to decreased demand, impacting investors and traders. The international bullion market saw gold prices fall by $26 per ounce, settling at $3,331 after a three-day trading pause.
The local market experienced a significant downturn, mirroring broader trends, with declining prices and reduced activity impacting vendors and consumers.. The price of 24-karat gold per tola decreased by Rs2,600, reaching Rs351,500. Similarly, the cost of 10 grams of gold dropped by Rs2,228, now standing at Rs301,354.
Silver, however, remained unaffected by the market fluctuations. Prices for one tola of silver held steady at Rs3,508, with 10 grams priced at Rs3,007, showing no change from previous levels.
This decline follows a brief uptick in gold prices on Saturday, when local markets saw a Rs3,100 per tola increase, bringing the price to Rs354,100, in line with a temporary rise in global markets.
Analysts attribute the current downturn to reduced investor interest and broader market dynamics, with attention now turning to upcoming economic indicators that could influence future price movements.
