The price of 24-karat gold dropped by Rs1,400 per tola on Monday, trading at Rs444,900 compared to Rs446,300 a day earlier, according to figures released by the All Pakistan Sarafa Gems and Jewellers Association.
Likewise, the rate for 10 grams of 24-karat gold fell by Rs1,200 to Rs381,430 from Rs382,630, while 10 grams of 22-karat gold declined by Rs1,100, settling at Rs349,656 against Rs350,756 previously.
In the global market, gold prices also slipped by $17 per ounce, decreasing to $4,235 from $4,252.
Silver rates mirrored the trend, with 24-karat silver per tola dropping by Rs12 to Rs5,261 from Rs5,273, and 10 grams of silver easing by Rs10 to Rs4,510 from Rs4,520. International silver prices were also lower, falling by $0.26 to $51.60 per ounce.
Meanwhile, spot gold gained 0.3% to reach $4,259.34 per ounce as of 0514 GMT, while U.S. gold futures for December delivery rose 1.4% to $4,273 per ounce.
Spot silver increased 0.6% to $52.18 per ounce, recovering slightly after a 4.4% drop on Friday, its steepest fall since early April, following a record high of $54.47 earlier in the day.