Gold price falls Rs21,500 per tola in Pakistan

Gold prices fell sharply in Pakistan on Monday, tracking a slump in the global bullion market.

In the domestic market, the price of gold dropped by Rs21,500 per tola, bringing it down to Rs490,362. The rate of 10 grams of gold also moved lower, shedding Rs18,433 to settle at Rs420,406, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Earlier, on Saturday, gold had already taken a hit, with the per tola rate falling by Rs25,500 to close at Rs511,862.

Internationally, gold prices also came under pressure, declining by $215 to stand at $4,676 per ounce, including a $20 premium.

Silver prices followed the same downward trend, with the rate per tola falling by Rs601 to Rs8,405.