Gold and silver prices fell on Monday, both internationally and in local markets, as global buying slowed, including by countries such as China and Russia, and profit-taking by international traders affected rates.
In the international bullion market, gold dropped by $32 per ounce to $5,010. In local markets, this translated to a decline of Rs3,200 per tola, bringing the price to Rs523,762 per tola, while the price per 10 grams of gold fell by Rs2,743 to Rs449,041.
Similarly, silver prices fell in the international market by 55 cents per ounce to $76.80. In Pakistan, the price per tola decreased by Rs55 to Rs8,164, and per 10 grams it dropped by Rs47 to Rs6,999.
According to the latest data from the State Bank of Pakistan, the country’s gold reserves have reached 64.76 tonnes, valued at $1.0374 billion.
In January 2026 alone, the value of gold reserves increased by $127.9 million. During the first seven months of the current fiscal year, Pakistan’s gold reserves rose by $350 million compared with $684 million in June 2025.
Spot gold fell 0.7 percent to $5,007.70 per ounce by 0858 GMT after losing more than one percent earlier in the session. US gold futures for April delivery dropped 0.4 percent to $5,027.90 per ounce.
Spot silver declined 0.4 percent to $77.09 per ounce after falling three percent earlier. The metal had risen 3.4 percent on Friday. Spot platinum slipped 0.9 percent to $2,043.60 per ounce, while palladium shed 0.3 percent to $1,681.34.
Peter David Schiff, an American stockbroker and financial commentator, recently told FoxNews, “The dollar is going to collapse. The dollar is going to be replaced by gold. Central banks are buying gold to back up their currencies.
They are getting rid of dollars. They are getting rid of treasuries. We are headed for an economic crisis that will make the 2008 financial crisis look like a Sunday school picnic”.
Schiff’s assessment may sound stark, but it is not an exaggeration. It is happening now. Gold posted unprecedented gains throughout 2025, rising as much as 55 percent over the year.
The pace accelerated in early 2026, pushing prices past $5,000 per ounce and briefly above $5,200 before a sharp pullback. As of February 12, gold was trading near $5,070, still holding firmly above the psychologically critical $5,000 mark.