Gold prices declined sharply in Pakistan on Monday, bringing relief to buyers after a brief surge witnessed a day earlier in both local and international markets.
According to the local Sarafa Association, the price of one tola gold dropped by Rs 4,700, settling at Rs 455,562 in the domestic market.
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Silver Prices Also Decline
Silver prices also moved downward. The price of one tola silver decreased by Rs 106, closing at Rs 7,756 in the local market.
What Happened a Day Earlier?
The decline comes just a day after a strong rally in gold and silver prices, triggered by movements in the global bullion market.
On the previous trading day:
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Gold in the international market surged by $57 to reach $4,379 per ounce
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In Pakistan, gold per tola jumped by Rs 5,700 to Rs 460,262
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10 grams of gold increased by Rs 4,887 to Rs 394,600
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Silver rose by Rs 227, reaching Rs 7,862 per tola
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Gold and Silver Prices Drop Across PakistanMarket Outlook
Experts say gold prices remain highly volatile due to global economic uncertainty, currency movements, and investor sentiment. Any shift in the international bullion market continues to have an immediate impact on local prices in Pakistan.
With frequent fluctuations, buyers and investors are advised to closely monitor trends before making purchasing decisions.
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