Gold prices fall in global, domestic markets

10-gram gold price drops by Rs1,629

Gold prices recorded a decline in both international and local markets today.

In the international bullion market, the price of gold fell by $19 per ounce, reaching $4,195.

After the global trend, domestic gold prices also dropped, with the per tola rate down by Rs1,900 to Rs441,862. The price of 10 grams of gold decreased by Rs1,629 to Rs378,825.

In contrast, silver prices remained unchanged, with per tola silver steady at Rs6,102 and 10 grams at Rs5,231.

Spot gold rose 0.47% to $4,208.39 per ounce by 0920 GMT. US gold futures for February delivery rose 0.48% to $4,237.80 per ounce.

Meanwhile, silver rose 1.17% to $58.80 per ounce.

Read: Gold slips, silver hits record high

Earlier on Monday, gold prices in Pakistan increased, mirroring gains in the international market as investors awaited the US Federal Reserve's policy meeting. Expectations of an interest rate cut kept the dollar subdued, helping drive bullion demand.

Domestically, gold per tola rose by Rs1,600 to Rs443,762, while the 10-gram rate reached Rs380,454, up Rs1,372, according to the All Pakistan Sarafa Gems and Jewellers Association (APGJSA).

The uptick follows a recent dip, when gold fell to Rs442,162 on Saturday. Internationally, spot gold gained 0.4% to $4,214.41 per ounce, while US gold futures for February delivery held steady at $4,243.50 amid cautious market sentiment.