In the international bullion market, the price of gold per ounce fell by $16, reducing it from $2,433 to $2,417.
Consequently, the price of 24-carat gold per tola in local markets dropped by Rs300 on Monday, settling at Rs256,500.
Similarly, the price of 10 grams of gold declined by Rs258, bringing it to Rs219,907.
In contrast, silver prices remained steady, with the cost per tola at Rs2,900 and per 10 grams at Rs2,486.28.
Last Friday, the price of gold hit an all-time high, rising by Rs2,400 to reach an unprecedented level of Rs257,300 per tola.
However, prices dipped yesterday after this surge, attributed to weaker US employment data and escalating political tensions in the Middle East.
The All Pakistan Sarafa Gems and Jewellers Association reported a $26 increase in bullion per ounce (31.10 grams) to $2,468 at the time of determining the local market price.
Gold reached an intra-day high of $2,477, just $6 below the record high of $2,483 set on July 17, 2024.
