Karachi, Pakistan – Web Desk: Gold prices declined sharply in both international and local markets on Monday, with the precious metal shedding $38 per ounce globally and Rs3,800 per tola in Pakistan .
International Market
In the global bullion market, gold fell by $38 per ounce**, bringing the new international price to **$4,073 per ounce . The decline follows a surge in oil prices over 3% on the same day as US-Iran tensions escalated, which typically sends investors toward safe-haven assets like gold . However, market dynamics on Monday saw the metal come under pressure, likely as investors took profits or shifted positions amid broader market uncertainty.
Local Market Performance
Following international trends, 24-karat gold per tola dropped by Rs3,800, closing at Rs429,736 . Similarly, 10 grams of gold decreased by Rs3,258 to Rs368,429 .
Silver also declined:
Per tola: Down Rs123 → Rs6,339
Per 10 grams: Down Rs106 → Rs5,434
Weekly Context
The price drop comes after gold had seen gains earlier in the week, with international prices rising to $4,111/oz and local rates jumping Rs1,100 per tola on Saturday following a one-day decline. The precious metal remains highly sensitive to global oil prices and geopolitical developments.
