Karachi, March 20, 2026 – Gold prices in Pakistan have witnessed a sharp decline of Rs32,400 per tola over the past two days, reflecting heightened volatility in global markets amid escalating geopolitical tensions in the Middle East.
According to market data, the price of 24-karat gold fell by Rs8,100 per tola on Friday, marking the second consecutive day of steep losses. The latest drop brought the price down to Rs491,362 per tola from the previous day’s Rs499,462 in local bullion markets. Just a day earlier, gold prices had recorded an even steeper fall of Rs24,300, signaling a sudden correction after recent highs.
Despite the current downturn, gold remains significantly elevated compared to historical levels. The precious metal had reached an all-time high of Rs572,862 per tola on January 29, 2026. Since then, prices have declined by Rs81,500, indicating a broader cooling trend following months of record-breaking gains.
Similarly, the price of 24-karat gold per 10 grams dropped by Rs6,945, settling at Rs421,263 compared to Rs428,208 a day earlier.
Bullion market experts attribute the recent volatility to fluctuations in international gold markets, driven by geopolitical uncertainty and shifting investor sentiment. Rising tensions in the Middle East, along with ongoing global trade concerns, have contributed to erratic price movements.
In the international market, gold prices fell by $81 per ounce, closing at $4,686 compared to $4,767 in the previous session.
Analysts suggest that gold may continue to experience sharp swings in the near term as investors react to global economic and political developments, keeping local bullion markets under pressure.