Karachi, March 23, 2026 – Gold and silver prices in Pakistan recorded a historic decline on Monday, according to the latest report issued by the All Pakistan Sarafa Gems and Jewelers Association, as global market volatility and geopolitical tensions rattled bullion markets.
The sharp drop marks one of the steepest single-day declines in precious metals, with gold prices plunging by Rs43,600 per tola in the domestic market. Silver prices also witnessed a significant fall, reflecting broader weakness in international commodity markets.
📊 Gold and Silver Prices in Pakistan (March 23, 2026)
| Commodity | Latest Price | Change |
| Gold 24K (per tola) | Rs447,762 | ↓ Rs43,600 |
| Gold 24K (per 10g) | Rs383,883 | ↓ Rs37,380 |
| Gold 22K (per 10g) | Rs351,905 | ↓ Rs34,266 |
| Gold (per ounce – global) | $4,250 | ↓ $436 |
| Silver 24K (per tola) | Rs6,884 | ↓ Rs800 |
| Silver 24K (per 10g) | Rs5,901 | ↓ Rs686 |
| Silver (per ounce – global) | $64.00 | ↓ $8.00 |
Bullion market experts attributed the dramatic fall to ongoing geopolitical uncertainty, particularly the escalating tensions in the Middle East, which have shifted investor focus toward energy markets instead of traditional safe-haven assets like gold.
Analysts noted that global gold prices remain highly volatile due to trade disruptions and the intensifying Iran conflict, which has impacted investor sentiment worldwide. The decline in international bullion prices directly translated into a steep drop in Pakistan’s local markets.
It is important to note that domestic gold and silver prices are closely linked to international rates and the interbank exchange rate issued by the State Bank of Pakistan (SBP), making them highly sensitive to global economic developments.