Pakistan’s gold market witnessed an extraordinary shock on Monday as prices recorded the third biggest single-day drop in history, mirroring a sharp downturn in international bullion markets. The sudden fall has unsettled investors, traders, and consumers alike, as the precious metal lost significant value within a very short span of time.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola plunged by Rs21,500, pushing the new rate down to Rs490,362. This dramatic decline came after several days of volatility and signals one of the steepest corrections seen in the local bullion market in recent years.
The downward pressure was equally visible in gram-based rates. The price of 10 grams of 24-karat gold dropped by Rs18,433 to settle at Rs420,406. Meanwhile, 10 grams of 22-karat gold also became cheaper by Rs16,897 and is now being sold at Rs385,386. Such a sharp adjustment has raised questions about short-term stability and future price direction.
This was not an isolated local event. Global gold prices also faced intense selling pressure, with rates falling by a massive $215 per ounce. In the international bullion market, gold slid to $4,676 per ounce, reflecting a broader correction driven by global financial uncertainty, shifting investor sentiment, and rapid movements in commodity markets.
Silver prices in Pakistan followed the same downward trend, adding to the overall turbulence in the precious metals sector. The price of 24-karat silver per tola declined by Rs601 to reach Rs8,405, while the rate for 10 grams of silver fell by Rs516 and now stands at Rs7,205. The synchronized drop in both metals highlights the scale of the market correction.
Market data shows that gold per tola in Pakistan has lost Rs82,500 in value over just three days. This unprecedented speed of decline has caused turmoil not only in domestic markets but also at the global level, where trillions of dollars in value have reportedly been wiped out due to the sudden slump in gold prices.
Analysts believe such sharp movements are likely to keep investors cautious in the coming days. While some buyers may view the decline as an opportunity, others remain wary of further volatility. For now, Pakistan’s gold market remains closely tied to international trends, making global developments a key factor in determining what comes next.
