Gold prices in Pakistan fell sharply on Monday, with 24-karat gold dropping by Rs3,600 per tola to Rs358,800 from Rs362,400, according to the All Pakistan Sarafa Gems and Jewelers Association.
Rates for 10 grams of 24-karat gold declined by Rs3,086 to Rs307,613, while 22-karat gold fell by Rs2,829 to Rs281,988. Silver also saw a dip, with per tola prices falling by Rs51 to Rs4,013 and 10 grams by Rs44 to Rs3,440.
In the international market, gold slipped by $36 to $3,361, while silver fell by $0.51 to $37.80.
Gold has long been seen as a safe-haven asset during inflation, political instability, and economic uncertainty.
While traditionally valued as a store of wealth and medium of exchange, new investment tools like gold-backed ETFs and mobile trading platforms have made it more accessible, allowing smaller investors, especially in regions like the Gulf, to enter a market once dominated by large institutions.
Current price swings highlight continued global demand as investors remain cautious amid economic and geopolitical challenges.
In Pakistan, where the rupee is under strain and uncertainty prevails, gold remains a preferred choice for both investment and jewelry.