LAHORE: Driven by a downturn in international market rates, gold prices in the country have registered a major decline for the fifth consecutive day, bringing much-needed relief to buyers in local sarafa markets.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola witnessed a massive drop of PKR 5,600 today, bringing the rate down to PKR 448,336 per tola.
Similarly, the price of 10-gram gold decreased by PKR 4,800, setting its new rate at PKR 384,175, while the price of silver dropped by PKR 171 to settle at PKR 6,837 per tola.
On the global front, the international spot price of gold fell by $56 to reach $4,258 per ounce, triggering further downward adjustments in local markets.
Local analysts note that following recent global trends, gold prices in the country have registered a major decline for the fifth consecutive day, marking a significant shift in current economic indicators.
A Review of Gold Prices in Pakistan Over the Past Five Years
Over the past five years (2021 to 2026), gold prices in Pakistan have experienced extraordinary and historic volatility.
Throughout this period, gold remained a prominent safe-haven investment asset, while persistent domestic economic challenges primarily fueled its upward trajectory.
During 2021 and 2022, soaring inflation, the depreciation of the local currency, and global economic pressures drove gold rates sharply upward.
Subsequently, in 2023 and 2024, severe economic turbulence and the soaring value of the US dollar against the Pakistani Rupee pushed gold prices to unprecedented record highs, rendering the precious metal increasingly out of reach for ordinary citizens and leading to sluggish trading in the sarafa market.
However, toward the end of 2025 and into early 2026, ongoing economic reforms, international stabilization, and recovering foreign exchange reserves introduced a corrective phase into the market.
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The consecutive drops observed recently demonstrate how closely local bullion rates are now reflecting international market corrections, helping stabilize market dynamics over the long term.
