KARACHI, April 20 — Gold prices in Pakistan dropped sharply on Monday, tracking declines in international markets amid heightened geopolitical tensions, traders said.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs4,900 to Rs501,162, down from the previous close of Rs506,062 in the domestic bullion market.
Similarly, the price of 24-karat gold per 10 grams declined by Rs4,501 to Rs429,665, reflecting the broader downturn in precious metals.
Market participants said the local price movement mirrored trends in global markets, where bullion came under pressure. Gold in the international market fell by $49 per ounce to $4,788, compared with $4,837 in the previous session.
Analysts attributed the decline to shifting investor sentiment amid rising tensions between the United States and Iran, which triggered volatility across commodity markets.
“Global price adjustments are quickly transmitted to the domestic market,” a bullion dealer said, noting that fluctuations in the United States dollar also influence local rates.
Despite the latest drop, gold prices in Pakistan remain elevated compared with historical levels. The metal had touched an all-time high of Rs572,862 per tola on January 29, 2026, highlighting the extent of volatility seen this year.
Traders said short-term movements in gold prices are likely to remain sensitive to geopolitical developments and global economic signals, particularly interest rate expectations and currency trends.
They added that domestic demand may also play a role in shaping prices, especially as buyers respond to fluctuations by adjusting purchasing decisions in the local market.