Gold prices in Pakistan reached a 4-month low on March 23, 2026, as the bullion market declined sharply during Eid al-Fitr. The drop reflects a broader downward trend in global gold markets.
According to the All Pakistan Sarafa Gems and Jewellers Association, local gold rates fell significantly compared to the previous session.
The price of 24-karat gold per tola dropped by Rs43,600, settling at Rs447,762. Previously, it stood at Rs491,362 before Eid.
Similarly, the price for 10 grams of 24-karat gold declined by Rs37,380 to Rs383,883. Silver prices followed the same trend. The rate per tola fell by Rs800, reaching Rs6,884 compared to Rs7,684 earlier. This decline highlights broader weakness in precious metals during the current market phase.
Internationally, gold prices fell by $436 to $4,250 per ounce. Market analysts linked this fall to global economic uncertainty and shifting investor sentiment.
Analysts pointed to rising oil prices and geopolitical tensions as key drivers. Ongoing conflict involving the United States, Israel, and Iran has added pressure to global markets.
Higher oil prices, especially with the Strait of Hormuz situation, have increased inflation concerns worldwide.
Experts noted that expectations have shifted from potential rate cuts to possible rate hikes. This shift has reduced gold’s appeal as a non-yielding asset. Additionally, investors are selling gold to cover losses in other markets, further pushing prices down.
While inflation typically supports gold prices, rising interest rates are currently offsetting that advantage. As a result, gold demand remains under pressure. Market conditions may continue to fluctuate depending on global economic and geopolitical developments.
