Karachi: Gold prices in the domestic market witnessed another decline today, with the price of per tola gold decreasing by 2,400 PKR.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold has dropped to 437,436 PKR per tola. Similarly, the price of 10 grams of gold saw a reduction of 2,058 PKR, bringing its current rate to 375,030 PKR.
The association further reported that this downward trend reflects the global market, where international gold prices fell by 24 USD, settling at 4,150 USD per ounce.
A Three-Year Overview of Gold Price Trends (2023–2026)
Over the past three years, the gold market has experienced historic volatility, driven by global macroeconomic shifts, geopolitical tensions, and local currency fluctuations.
Both globally and domestically in Pakistan, gold has aggressively solidified its status as the ultimate safe-haven asset.
In 2023, the domestic gold price in Pakistan crossed the monumental threshold of 200,000 PKR per tola.
This surge was primarily catalyzed by severe domestic inflation, political uncertainty, and the sharp depreciation of the Pakistani Rupee (PKR) against the US Dollar.
Globally, gold hovered around 1,900 USD to 2,000 USD per ounce as investors sought refuge from high global interest rates.
By 2024 and through 2025, the rally intensified dramatically.
Central banks worldwide began aggressively accumulating gold reserves, and escalating Middle Eastern conflicts pushed global spot gold to unprecedented heights.
Domestically, these global cues combined with local economic stabilization efforts, pushing the price of 24-karat gold well past 350,000 PKR per tola by early 2025.
Moving into 2026, the metal reached staggering historical peaks, briefly trading above 450,000 PKR per tola as international prices soared past 4,100 USD per ounce due to easing US Federal Reserve rate hike fears and global inflationary pressures.
While recent market corrections have caused minor dips—such as a recent drop to 437,436 PKR per tola—the overall three-year trajectory highlights a massive upward trend.
Ultimately, gold has yielded exceptional returns, proving to be an invaluable hedge against currency devaluation for investors.
