Pakistan’s gold market witnessed a massive drop on Tuesday as prices declined for the second consecutive day, reflecting strong downward pressure from the international bullion market. As a result, buyers showed renewed interest while investors carefully reassessed their positions. This sharp fall brought temporary relief to consumers who had delayed purchases due to record-high rates in recent weeks.
According to market data, the price of 24-karat gold per tola fell sharply by Rs10,700, bringing the new rate down to Rs459,462 across local markets. Similarly, the price of 10 grams of 24-karat gold dropped by Rs9,174 to settle at Rs393,914. Meanwhile, 10 grams of 22-karat gold also declined by Rs8,410 and was sold at Rs361,100 nationwide.
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Meanwhile, the international bullion market also experienced a strong downward trend, which played a major role in pulling local prices lower. Gold prices globally dropped by $107 per ounce, settling at $4,371. This significant decline was driven by shifting investor sentiment, profit-taking, and changing expectations around global economic indicators and monetary policies.
As global prices weakened, local traders adjusted their rates accordingly to stay aligned with international trends. Consequently, the domestic gold market reacted swiftly, marking one of the largest single-day declines in recent months. Analysts believe continued volatility in global markets could keep gold prices unstable in the near term, influencing both investors and end consumers.
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Silver prices in Pakistan also followed the same downward direction, adding to the overall softness in precious metals. The price of 24-karat silver per tola fell by Rs145 to reach Rs7,930, while 10 grams of silver declined by Rs125 to settle at Rs6,798. This synchronized drop highlighted broader pressure across the precious metals market.
Looking ahead, market participants expect gold and silver prices to remain sensitive to international developments, currency movements, and investor behavior. Therefore, buyers are advised to closely monitor price trends before making purchasing decisions. If global uncertainty persists, further fluctuations in precious metal prices cannot be ruled out.