Karachi, March 23, 2026 — Gold prices in Pakistan witnessed an unprecedented collapse on Monday, registering the largest-ever single-day decline of Rs43,600 per tola amid global market volatility and geopolitical uncertainty.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola plunged to Rs447,762, down sharply from the previous closing of Rs491,362 in the domestic bullion market.
This dramatic fall comes after gold had previously surged to an all-time high of Rs572,862 per tola on January 29, 2026, highlighting the extreme volatility currently gripping the precious metals market.
Sharp Decline Across Gold Units
The downward trend was also evident in other measurements. The price of 24-karat gold per 10 grams dropped significantly by Rs37,380, settling at Rs383,883, compared to the previous rate of Rs421,263.
Market analysts described the drop as extraordinary, noting that such a steep decline in a single trading session is rarely seen in Pakistan’s bullion market history.
Global Factors Driving Prices Lower
Bullion experts attributed the sharp fall to ongoing geopolitical tensions and global trade uncertainties, particularly the escalating conflict involving Iran, which has disrupted traditional investment flows.
Interestingly, gold—typically considered a safe-haven asset during times of crisis—has faced selling pressure as investors shift focus toward energy markets and liquid assets.
In the international market, gold prices also recorded a significant drop of $436 per ounce, closing at $4,256, down from $4,686 in the previous session.
Market Outlook
Experts believe that continued geopolitical instability and fluctuations in global demand could keep gold prices volatile in the near term. Investors are advised to closely monitor international trends and currency movements, as local prices remain closely tied to global bullion markets and exchange rate dynamics.
The historic fall underscores the unpredictable nature of commodity markets in times of global uncertainty, leaving investors cautious about short-term price movements.