Karachi, March 22, 2026 – Gold and silver prices in Pakistan recorded a historic weekly decline, driven by global market volatility and shifting investor sentiment amid the ongoing Middle East crisis.
According to the All Pakistan Sarafa Gems and Jewelers Association, gold prices dropped sharply by Rs30,200 per tola, while silver prices fell by Rs857 per tola during the week ended March 20, 2026, compared to the previous week.
Bullion market experts attributed the steep decline to changing global investment trends, as investors moved away from traditional safe-haven assets like gold and silver and shifted toward energy markets amid rising geopolitical tensions.
Weekly Gold and Silver Price Comparison
| Commodity | March 20, 2026 | March 14, 2026 | Change |
| Gold 24K per tola | Rs491,362 | Rs524,652 | -30,200 |
| Gold 24K per 10 grams | Rs421,263 | Rs449,727 | -28,464 |
| Gold 22K per 10 grams | Rs386,171 | Rs412,264 | -26,093 |
| Gold (per ounce, global) | $4,686 | $5,018 | -$332 |
| Silver 24K per tola | Rs7,684 | Rs8,541 | -857 |
| Silver 24K per 10 grams | Rs6,587 | Rs7,322 | -735 |
| Silver (per ounce, global) | $72.00 | $80.57 | -$8.57 |
Analysts noted that the decline in international gold prices, which fell by $332 per ounce during the week, significantly impacted domestic bullion rates.
The pricing of precious metals in Pakistan remains closely linked to exchange rate movements and international trends, with the State Bank of Pakistan providing key interbank currency benchmarks.
Experts caution that continued geopolitical uncertainty may keep bullion markets volatile in the coming weeks, with prices likely to remain sensitive to global economic developments and energy market shifts.