The price of per-tola 24-karat gold on Monday witnessed a sharp decline of Rs21,500 and was traded at Rs490,362 in the local market, the All Pakistan Sarafa Gems and Jewellers Association reported.
The price of 10 grams of 24-karat gold also plunged by Rs18,433 to Rs420,406, while the rate of 10 grams of 22-karat gold decreased by Rs16,897 to Rs385,386.
In the international market, gold prices fell by $215 to $4,676.
Meanwhile, per tola silver shed Rs601 to reach Rs8,405, while the price of 10 grams of silver declined by Rs516 to Rs7,205.
International silver prices also decreased by $6.01 to $79.30.
Reporter Ashraf Khan