QUETTA: Domestic bullion markets witnessed a downward correction in gold prices following a recent surge. According to local jewelers, the price of 24-karat gold fell by PKR 1,400 per tola, bringing it down to PKR 432,436.
Similarly, the price for 10 grams of gold decreased by PKR 1,200 to settle at PKR 370,744.
In contrast to gold, the All Pakistan Sarafa Association reported that silver prices climbed slightly, rising by PKR 11 per tola to reach PKR 6,432.
This domestic dip in gold mirrors the trend in the international market, where spot gold shed $14 per ounce to arrive at $4,100.
Gold Prices Over the Past Two Years (2024–2026)
The trajectory of gold prices over the last two years has been nothing short of extraordinary, characterized by historic highs driven by both domestic economic pressures and global geopolitical shifts.
Between 2024 and 2026, the metal firmly established itself as the ultimate safe-haven asset for Pakistani investors looking to shield their wealth from inflation.
In early 2024, local 24K gold rates hovered well below the PKR 300,000 per tola mark.
However, a combination of a weakening Pakistani Rupee, persistent domestic inflation, and soaring global bullion prices sparked an unprecedented multi-year rally.
By 2025, economic uncertainties alongside massive buying by global central banks pushed international spot gold to unprecedented heights, pushing Pakistan’s domestic rate past PKR 350,000 and eventually clearing the PKR 400,000 milestone.
Entering mid-2026, the international market has seen bullion trading at a massive premium—holding above the $4,100 per ounce mark due to lingering macroeconomic anxieties and global inflation.
Locally, while the market occasionally experiences sharp downward corrections—such as the recent single-day drop of PKR 1,400 tola—the macro-trend over the two-year window reflects a staggering net gain.
Gold has effectively transitioned from a traditional jewelry commodity into a vital financial instrument for wealth preservation in Pakistan, quadrupling in value compared to its metrics from the turn of the decade.
