The gold price in Pakistan dropped again, marking another notable decline that brings rates nearly Rs. 10,000 per tola below the recent record high. Both global pressures and subdued local demand continue to weigh on bullion, keeping investors and jewelry buyers cautious.
On Wednesday, the price of 24-karat gold per tola fell by Rs. 1,400 to Rs. 355,200 from the previous day’s Rs. 356,600, according to the All Pakistan Sarafa Gems and Jewellers Association. This consistent downward trend has erased much of the gains gold made earlier this month when it touched historic levels.
Similarly, the rate for 10 grams of 24-karat gold slipped by Rs. 1,201 to Rs. 304,526 from Rs. 305,727. The 10 grams of 22-karat gold dropped Rs. 1,101, trading at Rs. 279,158 compared to Rs. 280,259 a day earlier.
Silver also witnessed a correction. Per tola silver fell Rs. 96 to Rs. 3,935, while 10 grams dropped Rs. 82 to Rs. 3,373.
On the international stage, gold slid $14 to $3,325 per ounce from $3,339, while silver shed $0.96 to $37.02 per ounce. The local market’s movement directly mirrors these global changes, underlining Pakistan’s dependence on international bullion trends.
International Trends Drive Local Prices
The drop in gold price in Pakistan comes as part of a broader global correction. Investors worldwide are reassessing gold as a safe-haven asset amid mixed signals from major economies. With global inflation showing signs of cooling and bond yields edging higher, some investors are shifting funds away from precious metals.
Pakistan’s bullion market is highly sensitive to such global swings. Every $10 fluctuation in international prices has an immediate impact on domestic trading. That is why when the global market corrected by $14 yesterday, Pakistan’s gold market swiftly followed.
Local Demand Slows Amid Price Volatility
Domestic demand has also cooled. Jewelers report that buyers are hesitant to make large purchases due to extreme price volatility. When gold was at its peak near Rs. 365,000 per tola, buyers slowed down considerably. Now, even after a decline of nearly Rs. 10,000 per tola from the record, many remain on the sidelines, waiting for stability.
Analysts explain that while falling prices are normally good for customers, uncertainty keeps them from committing. People prefer to wait until the market settles before buying for weddings or investment purposes.
Historical Pattern of Sharp Rises and Falls
This is not the first time the gold price in Pakistan has dropped sharply after a record surge. Just weeks earlier, prices fell Rs. 5,900 per tola in a single day after briefly touching a new high of Rs. 364,900. That swift correction underscored the fragile balance in the bullion market.
Similarly, during late July, gold lost over Rs. 10,000 per tola across five sessions, showing how quickly the market can reverse direction. The current decline follows the same pattern—steep gains followed by rapid corrections once international momentum shifts.
Outlook for Investors and Buyers
Market experts remain cautious about the short-term outlook. If international prices continue to slide, domestic rates may test lower levels in coming days. However, any geopolitical tension, global market uncertainty, or weakening of the rupee could trigger another surge.
For now, buyers planning long-term investment may see this correction as an opportunity. Still, experts advise close monitoring of both local currency trends and global bullion prices before making big moves.
