Karachi, March 4, 2026 – Gold prices in Pakistan witnessed a sharp decline on Wednesday, falling by Rs10,000 per tola amid heightened uncertainty and geopolitical tensions in the Middle East.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola dropped to Rs539,962, compared to the previous day’s closing of Rs549,962 in local bullion markets.
Despite the recent fall, gold prices remain significantly elevated. The precious metal had reached an all-time high of Rs572,862 per tola on January 29, 2026, marking a historic peak in Pakistan’s gold market.
24-Karat Gold Per 10 Grams Also Declines
Similarly, the price of 24-karat gold per 10 grams decreased by Rs8,573, settling at Rs462,930, down from Rs471,503 recorded a day earlier.
Bullion dealers noted that the domestic price movement closely followed international trends, where gold also experienced a notable correction.
International Gold Prices Fall $100 Per Ounce
In global markets, gold prices fell by $100 per ounce, closing at $5,172, compared to the previous session’s $5,272.
Market analysts attributed the decline to shifting investor sentiment. Amid escalating conflict in the Middle East, energy prices have surged sharply, prompting investors to redirect funds toward the power and energy sectors rather than safe-haven assets like gold.
Experts believe continued geopolitical instability, fluctuations in global energy prices, and investor positioning will remain key factors influencing gold prices in Pakistan and worldwide in the coming sessions.
The latest drop underscores the volatility currently gripping commodity markets as geopolitical tensions reshape global investment flows.