Gold prices in Pakistan reversed their recent gains on Monday, tracking a sharp downturn in international bullion markets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola declined by Rs. 4,400, settling at Rs. 471,762. Similarly, the price of 10 grams fell by Rs. 3,773 to close at Rs. 404,459.

This comes after gold had risen by Rs. 1,300 on Saturday to reach Rs. 476,162 per tola, before today’s reversal.

In global markets, gold dropped by $44 per ounce, settling at $4,494, as international rates weakened during the trading session.

Meanwhile, silver moved in the opposite direction, gaining Rs. 46 per tola to close at Rs. 8,059 in the local market.