Gold prices on Monday declined in both the international and local markets, while silver prices recorded an increase.

In the international bullion market, the price of gold per ounce fell by $44 to $4,494.

According to the All Pakistan Gems and Jewellers Sarafa Association, in the local market, the price of gold per tola declined by Rs4,400 to Rs471,762. The price of 10 grams of gold also decreased by Rs3,773 to Rs404,459.

Meanwhile, the price of silver per tola increased by Rs46 to Rs8,059. The price of 10 grams of silver also rose by Rs40 to Rs6,909.

On the other hand, bears dominated trading at the Pakistan Stock Exchange (PSX) as investors reacted to rising inflation and lingering geopolitical concerns. The benchmark KSE-100 index remained under pressure throughout the session, with broad-based selling dragging the market sharply lower.

Investor sentiment was weighed down by uncertainty surrounding the government’s upcoming budget process to satisfy both the International Monetary Fund (IMF) and the public. At the same time, the absence of progress in US-Iran peace talks and continued uncertainty surrounding shipping through the Strait of Hormuz added to investor nervousness.

Selling was largely witnessed in major sectors such as automobile assemblers, cement, commercial banks, and oil and gas exploration companies.