Gold and silver prices fell on Monday, both internationally and in local markets as global buying slowed, including by countries such as China and Russia, and profit-taking by international market players impacted rates.

In the international bullion market, the price of gold dropped by $32 per ounce to $5,010. In local markets, this translated to a decrease of Rs3,200 per tola, bringing the price to Rs523,762 per tola, while the price per 10 grams of gold declined by Rs2,743 to Rs449,041.

Similarly, silver prices in the international market fell by 55 cents per ounce to $76.80. In the local market, the price of silver per tola decreased by Rs55 to Rs8,164, and per 10 grams fell by Rs47 to Rs6,999.

According to the latest data from the State Bank of Pakistan, the country’s gold reserves have reached 64.76 tonnes, valued at $1.0374 billion.

In January 2026 alone, the value of gold reserves increased by $127.9 million. During the first seven months of the current fiscal year, Pakistan’s gold reserves rose by $350 million, compared with $684 million in June 2025.

Spot gold fell 0.7% to $5,007.70 per ounce by 0858 GMT, after losing more than 1% earlier in the session.

US gold futures for April delivery lost 0.4% to $5,027.90 per ounce.

Meanwhile, spot silver lost 0.4% to $77.09 per ounce after a 3% drop earlier in the session. The metal had risen 3.4% on Friday.

Spot platinum slipped 0.9% to $2,043.60 per ounce, while palladium shed 0.3% at $1,681.34.

Read: Gold surge signals dollar’s wobbly reign

Peter David Schiff, an American stockbroker and financial commentator, on a recent FoxNews show said, “The dollar is going to collapse. The dollar is going to be replaced by gold. Central banks are buying gold to back up their currencies. They are getting rid of dollars. They are getting rid of treasuries. We are headed for an economic crisis that will make the 2008 financial crisis look like a Sunday school picnic”.

Schiff’s assessment may sound stark, but this isn’t exaggeration. It isn’t doom-saying. It’s happening – now, in real time. The yellow precious metal posted unprecedented gains throughout 2025, soaring as much as 55% over the year.

The pace dramatically accelerated in early 2026, pushing prices past $5,000 per ounce and briefly above $5,200 before an equally dramatic pullback. As of February 12, gold was trading near $5,070 – still holding firmly above the psychologically critical $5,000 threshold.