Gold prices in Pakistan fell sharply on Monday, with the price of one tola of gold dropping Rs12,800 amid a decline in international bullion rates.

According to the latest rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold fell to Rs438,136 per tola.

The price of 10-gram gold also declined by Rs10,973 to Rs375,631.

The drop came as international gold prices weakened. The global rate fell by $128 to $4,156 per ounce.

Gold had also declined in Pakistan on Saturday, when its price fell Rs2,100 to Rs450,936 per tola. This means the local gold rate has now dropped by Rs14,900 per tola across the two reported sessions.

Silver prices also moved lower on Monday. The price of silver fell Rs325 to Rs6,578 per tola.

Local gold rates are linked to movements in international bullion prices and the exchange rate, with daily rates announced by the industry’s representative association.