ISLAMABAD: After two days of upward trend in global and local gold markets, a significant decline is being observed again in gold prices.
In global and local gold markets, the third largest drop in history is being recorded. In Pakistan, the price of 24-karat gold per tola has decreased by Rs21,400, now standing at Rs507,762.
The price for 10 grams of gold has fallen by Rs18,347, reaching Rs435,324.
Today, the price of silver per tola has dropped by Rs1,430 to Rs7,825.
In the international market, gold per ounce has become cheaper by $214, now at $4,850.
The international gold price per ounce has once again fallen below $5,000.
Gold prices have experienced dramatic volatility in recent times, particularly from late 2025 into early 2026, marking one of the most explosive bull runs in modern history followed by sharp corrections.
In 2025, gold surged dramatically—rising over 60% (and up to 63-65% in some reports)—driven by factors such as geopolitical uncertainty, tariff announcements (notably from the US), strong central bank purchases, ETF inflows, a weakening US dollar, and safe-haven demand amid global economic concerns.
This pushed international spot prices from around $2,600–$2,800 per ounce at the start of the year to well over $4,000 by late 2025, with multiple all-time highs.
The momentum carried into 2026, where gold continued climbing aggressively in January, hitting record peaks around $5,500–$5,600 per ounce (with some reports citing highs near $5,608).
This reflected heightened uncertainty from policies like tariffs, economic volatility, and persistent safe-haven buying.
However, late January and early February 2026 saw significant pullbacks—one of the largest single-day drops in history (nearly 10% on January 30), erasing much of the early-year gains temporarily.
Prices dipped due to profit-taking, speculative unwinding, heightened market volatility, and short-term selling pressure after repeated record highs.
As of early February 2026 (around February 6), international gold prices have been fluctuating in the $4,800–$4,900 per ounce range (e.g., around $4,850–$4,896 in recent sessions), recovering somewhat from dips but remaining below the January peaks.
This represents a correction from the all-time high but still shows strong overall gains—up roughly 9–10% in the past month and over 70% year-over-year in many metrics.
In Pakistan, local gold prices closely track international trends (adjusted for currency and local factors).
Recent data shows sharp movements mirroring global shifts:
- Just days ago, 24-karat gold per tola dropped significantly by Rs21,400 to around Rs507,762.
- Per 10 grams, it fell by Rs18,347 to Rs435,324.
- Silver per tola also declined by Rs1,430 to Rs7,825.
- This followed earlier rises, with prices briefly exceeding Rs529,000 per tola in the days prior.
Overall, the recent pattern shows two days of upward momentum followed by a major decline (as seen in local reports), but the broader trend remains bullish.
Analysts (e.g., J.P. Morgan, World Gold Council) forecast continued strength into 2026–2027, potentially pushing toward $5,000+ per ounce by late 2026 or higher longer-term, supported by central bank demand and ongoing uncertainties—though short-term corrections and volatility are expected.
This reflects gold’s role as a hedge against inflation, currency weakness, and geopolitical risks, with sharp rises and falls typical during periods of extreme market sentiment.
For the most accurate current rates, check live sources like international exchanges or local jewelers’ associations.
