Gold prices see drop in Pakistan, global markets

Gold prices in Pakistan decreased on Monday after five consecutive sessions of increases, mirroring a decline in international rates. The price of gold per tola in the local market dropped by Rs1,500, settling at Rs279,300.

Similarly, the price of 10-gram gold fell by Rs1,286, bringing it to Rs239,455, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Saturday, the price of gold had risen by Rs1,400, reaching Rs280,800 per tola.

The international gold rate also saw a drop on Monday. The price was recorded at $2,675 per ounce, with a premium of $20, marking a decrease of $15 from the previous day.

Meanwhile, silver prices remained stable at Rs3,350 per tola.

On the international market, gold prices held steady due to a stronger-than-expected US jobs report, which reinforced the Federal Reserve's cautious approach to rate cuts. Additionally, uncertainties surrounding the incoming Trump administration's policies continued to fuel safe-haven demand for gold.