Karachi, April 29, 2026 — Pakistan gold prices today recorded a sharp decline, with rates falling by Rs5,500 per tola on Wednesday, marking the second consecutive day of losses in domestic bullion markets.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola settled at Rs479,562, down from the previous day’s closing of Rs485,062.
Similarly, the price of 24-karat gold per 10 grams decreased by Rs4,715 to Rs411,147, compared to Rs415,862 a day earlier.
READ MORE: Gold prices crash by Rs8,900 per tola today in Pakistan
Global Trends Weigh on Local Market
Bullion market analysts attributed the decline in Pakistan gold prices to a downward trend in international markets. Global gold prices fell by $55 per ounce, closing at $4,572 compared to $4,627 in the previous session.
The drop reflects shifting investor sentiment amid geopolitical and economic developments.
Middle East Tensions and Interest Rate Pressures
Analysts noted that uncertainty surrounding tensions in the Middle East has contributed to volatility in global commodity markets. Concerns over stalled diplomatic progress and rising crude oil prices have increased inflationary pressures worldwide.
Higher inflation expectations have, in turn, raised the likelihood of tighter monetary policy and elevated interest rates.
Impact on Gold Demand
While gold is traditionally viewed as a hedge against inflation, rising interest rates tend to reduce its appeal as a non-yielding asset. This dynamic has contributed to recent selling pressure in global bullion markets, which has directly impacted local prices in Pakistan.
Outlook
Market participants expect gold prices to remain volatile in the near term, as global economic uncertainty, geopolitical tensions, and interest rate expectations continue to influence investor behavior.