Gold Price Crash in Pakistan Shakes Local and Global Markets

ISLAMABAD – Gold prices saw the third largest drop in history on Monday, hitting both local and international markets. In Pakistan, the price of 24-karat gold per tola fell by Rs21,500, bringing the new rate to Rs490,362. Similarly, 10 grams of 24-karat gold dropped by Rs18,433 to Rs420,406. The price of 10 grams of 22-karat gold also fell by Rs16,897, settling at Rs385,386.

The decline was not limited to Pakistan. In the global bullion market, gold fell by $215 per ounce, reaching $4,676. Analysts say global market pressures and investor sentiment triggered the sharp decline. Traders warned that such large drops could impact investment strategies worldwide.

Silver prices in Pakistan also fell sharply following the gold trend. The price of 24-karat silver per tola dropped by Rs601 to Rs8,405. Meanwhile, 10 grams of silver decreased by Rs516 to Rs7,205. Market observers said the fall in silver reflected broader uncertainty in precious metals markets.

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Over the past three days, gold per tola in Pakistan has lost Rs82,500 in value. This sudden decline at the global level created turmoil in gold markets. Experts said the drop caused trillions of dollars in losses worldwide.

Market analysts urged caution for investors and jewelers as prices remain volatile. They highlighted that global supply, currency fluctuations, and investor sentiment continue to drive metal prices. They advised monitoring international trends closely for future price movements.