Gold prices in Pakistan fell sharply on October 23, 2026, as international bullion rates dropped by $70 per ounce amid geopolitical uncertainty and rising inflation fears.

KARACHI, October 23, 2026: Gold prices in Pakistan plunged by Rs7,000 per tola on Friday, following a sharp decline in international bullion markets amid geopolitical uncertainty and growing inflation concerns.

According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold fell to Rs424,536 per tola from the previous day’s closing rate of Rs431,536 in local bullion markets.

Similarly, the price of 24-karat gold per 10 grams declined by Rs6,001 to Rs363,971, compared with Rs369,972 recorded on Thursday.

Bullion market experts attributed the decline in domestic gold prices to an uncertain geopolitical situation and rising inflation fears worldwide, which have contributed to fluctuations in international gold rates.

In the international market, gold prices dropped by $70 per ounce to settle at $4,020, down from the previous day’s closing rate of $4,090.

The latest decline reflects the impact of movements in global bullion prices on Pakistan’s domestic gold market. Local gold rates generally respond to international prices and currency exchange movements, although domestic market conditions can also influence retail rates.

The sharp fall offers some relief to buyers facing elevated gold prices, while investors and jewellers will continue to monitor international bullion trends and geopolitical developments for further direction.