The global bullion market recorded a notable drop of 23 dollars, pulling gold down to 4,198 dollars per ounce, a shift that rippled swiftly into local markets.
Back home, the price of one tola of gold slid by 2,300 rupees, landing at Rs 442,162, a decline that brought a sigh of relief to buyers who had watched prices surge only a day earlier.
On Friday, gold had climbed by Rs 3,000, touching Rs 444,562 per tola, a spike that had added fresh tension to an already jittery market.
The price of 10 grams of gold followed a similar trajectory, falling by Rs 1,972 to Rs 379,082. Market analysts described the shift as a cooling breeze after a week of heated speculation, noting that global uncertainties continue to guide local sentiment.
Meanwhile, silver prices stood firm, untouched by the turbulence that shook the gold market. The rate remained steady at Rs 6,072 per tola, offering what some jewelers called a rare island of stability in a restless sea of price changes.
Experts say the weekend adjustment reflects both global market pressure and the natural ebb and flow of investor confidence. As one trader put it, Gold may glitter, but its path is rarely straight.
