Karachi, December 2, 2025 – Pakistan’s gold market witnessed a significant correction on Tuesday as the recent upward rally came to a halt, with 24-karat gold prices falling sharply by Rs2,700 per tola.
The decline marks one of the most notable single-day adjustments in recent weeks, easing pressure on buyers who had been struggling with record-high rates.
According to data released by the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold dropped to Rs444,162 per tola, slipping from the previous day’s closing of Rs446,862. The metal had earlier surged to an unprecedented all-time high of Rs456,900 per tola on October 17, 2025, driven by heightened global uncertainties and increased investor activity.
The price of 24-karat gold per 10 grams also recorded a decline of Rs2,315, closing at Rs380,797 compared to Rs383,112 a day earlier. This correction has been welcomed by local jewelers, who noted that the surge in prices over the past few months had suppressed market demand, particularly ahead of the winter wedding season.
Analysts attributed the downturn in local gold prices to the bearish movement in international bullion markets. Global gold prices slipped by $27, settling at $4,218 per ounce, compared to the previous day’s $4,245. They explained that geopolitical tensions, shifting interest rate expectations, and trade disputes have kept international prices volatile, prompting fluctuations in Pakistan’s market as well.
Experts added that Pakistan’s heavy reliance on imported gold means any change in global pricing has an immediate impact on domestic rates. With international prices softening, further adjustments in the local market may follow in the coming days if global sentiment remains weak.