Karachi, April 9, 2026 — Gold prices in Pakistan witnessed a sharp decline on Thursday, falling by Rs9,500 per tola as renewed geopolitical tensions in the Middle East rattled global financial and commodity markets.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola dropped to Rs494,662, down from the previous day’s closing of Rs504,162 in local bullion markets. The latest fall marks one of the steepest single-day declines in recent months.
Similarly, the price of 24-karat gold per 10 grams decreased by Rs8,145, settling at Rs424,092 compared to Rs432,237 a day earlier. Despite the decline, gold prices remain significantly high compared to historical levels, after hitting an all-time record of Rs572,862 per tola on January 29, 2026.
Market analysts attributed the sudden drop to easing trends in international gold markets following volatile geopolitical developments. Reports of ceasefire violations in the ongoing Iran-related conflict triggered uncertainty, leading to fluctuations across global financial systems.
In the international market, gold prices fell by $95 per ounce, closing at $4,723 compared to the previous $4,814. Experts noted that rapid shifts in investor sentiment, driven by geopolitical risks and profit-taking, contributed to the downward trend.
Gold traditionally serves as a safe-haven asset during times of uncertainty. However, sudden changes in global dynamics can lead to price corrections, as seen in the latest market movement.
Traders and investors in Pakistan are closely monitoring global developments, as further volatility may impact gold prices in the coming days.