Gold prices continued their downward trend on Monday in both international and local markets, building on losses recorded in the previous session as global bullion prices remained under pressure.
At the start of the week, gold in the international market fell by $30.94 per ounce, bringing the price down to $4,297 per ounce. The decline in overseas markets was mirrored domestically, where gold prices also moved lower.
Data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed that the price of 24-karat gold per tola decreased by Rs3,094, settling at Rs452,233. Meanwhile, the rate for 10 grams of gold dropped by Rs2,785 to Rs386,987.