KARACHI: Gold prices in Pakistan fell sharply on Friday, tracking losses in the international bullion market and reversing gains recorded earlier this week.
According to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola declined by Rs 8,600 to settle at Rs 519,962. Similarly, the rate for 10 grams dropped by Rs 7,373 to Rs 445,783 in the local market.
The downturn mirrors developments in global markets, where gold fell by $86 per ounce to $4,972, inclusive of a $20 premium. The decline comes just days after international prices had climbed to $5,035 per ounce, lifting domestic rates alongside the global rally.
Earlier this week, gold prices in Pakistan had extended gains as global rates edged higher. On Tuesday, the per tola price rose by Rs 1,500 to Rs 526,262, while 10-gram gold increased by Rs 1,286 to Rs 451,184.
Friday’s trading session also saw weakness in silver, with the price per tola falling by Rs 501 to Rs 8,324, reflecting broader pressure across precious metals.
Analysts note that gold remains highly sensitive to fluctuations in international markets, currency movements and shifting investor sentiment. As a globally traded commodity, local prices in Pakistan typically follow international trends, adjusted for exchange rates and import premiums.
Gold continues to hold a key place in the global financial system, with central banks maintaining reserves as a hedge against currency volatility. Data compiled by Trading Economics shows the United States holds the world’s largest gold reserves at around 8,133 tons, followed by Germany, Italy and France, while major Asian holders include China and India.
Pakistan’s own gold reserves stand at approximately 64.77 tons, placing it in the mid-tier globally. Analysts say these holdings provide some financial cushioning during periods of economic uncertainty.
Market participants have been advised to monitor international price movements closely to determine whether the latest correction represents short-term volatility or the beginning of a broader pullback in bullion markets.