Gold prices in Pakistan recorded another sharp drop on Monday, tracking the downward trend seen in international markets over the past week.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs. 6,500, settling at Rs. 533,362.

The rate for 10 grams of gold also declined by Rs. 5,573, bringing it down to Rs. 457,271.

Earlier on Saturday, the precious metal had already witnessed a significant fall, with the per-tola price dropping by Rs. 6,100 to Rs. 539,862 during the trading session.

The decline in domestic prices follows a drop in the global gold market, where the international price fell by $65 per ounce to $5,106, including a premium of $20.

Meanwhile, silver prices also edged lower in the local market. The price per tola of silver slipped by Rs. 37, closing at Rs. 8,894.