Karachi, April 23, 2025 — Gold prices witnessed a dramatic fall on Wednesday, bringing an end to the historic rally that had gripped Pakistan’s bullion markets for weeks.
The unexpected decline has taken traders and investors by surprise, especially after gold had reached unprecedented highs in the local market.
In Pakistan, the price of 24-karat gold per tola dropped significantly by Rs11,700, falling from its all-time high of Rs363,700 to Rs352,000. Meanwhile, the price of 24-karat gold per 10 grams also saw a sharp decrease, shedding Rs10,031 to settle at Rs301,783, compared to the previous day’s close of Rs311,814.
This sharp reversal comes after a sustained rally in gold prices that had driven investor interest and speculation across Pakistan. Analysts link the sudden drop to developments in the international gold markets, where prices fell by a substantial $116 per ounce. Gold closed at $3,338 per ounce globally, down from the previous record of $3,456.
Market experts in Pakistan attribute this slump to new tariffs imposed by the U.S. government, which have injected fresh volatility into global commodity markets. They believe that the gold rally lost momentum as investors reacted swiftly to policy changes, triggering profit-taking and price corrections.
Despite the decline, many analysts believe the overall trend for gold in Pakistan could remain bullish in the long term, citing ongoing economic uncertainty and currency devaluation pressures. However, the recent price crash serves as a reminder of how quickly momentum in the gold market can shift.
This marks the fifth time in recent months that gold in Pakistan has witnessed such a dramatic turn in its rally, raising questions about the sustainability of future gains. As the dust settles, all eyes will remain on both global developments and local demand trends to determine whether this marks a temporary dip or the beginning of a longer-term correction in Pakistan’s gold rally.