KARACHI — After a period of intense volatility, gold prices in Pakistan witnessed a sharp correction on Thursday, retreating from record highs as the international market cooled. In the local market, the price per tola fell by Rs 9,500, reflecting a broader global trend as investors reassess risks amid the fragile Gulf ceasefire.
Gold prices drop again after a one-day pause:
24K per tola: down ₹9,500 to PKR 494,662
10g gold: down PKR 8,145 to 424,092
Silver per tola: down PKR 300 to 7,884
Global gold: $95 lower at $4,723/oz#DigitalNews247 #GoldUpdate #PakistanMarkets pic.twitter.com/lMeZ3b10In
— Digital News 247 (@DigitalNews247) April 9, 2026
Local Market Snapshot
According to the latest rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the precious metal saw the following adjustments:
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Gold (24K) per Tola: Declined to Rs 494,662 (Down by Rs 9,500).
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Gold (24K) 10-Gram: Sold at Rs 424,092 (Down by Rs 8,415).
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Silver per Tola: Dropped by Rs 300, reaching Rs 7,884.
This downward movement follows a massive surge on Wednesday, where the price per tola had jumped by Rs 15,700, peaking at over half a million rupees.
Global Context: Gold Sheds $95
The international bullion market, which often serves as a “safe haven” during times of war and geopolitical uncertainty, saw a significant sell-off on Thursday.
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International Rate: The price of gold declined by $95, reaching $4,723 per ounce (including a $20 premium).
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The ‘Peace Discount’: Analysts suggest that while the ceasefire in the Middle East remains strained, the shift from active military escalation to the “Islamabad Venue” for diplomatic talks has led some investors to move capital back into riskier assets like equities, dampening the demand for gold.
Market Outlook: Volatility Remains
Despite today’s decline, gold prices remain historically high, hovering near the half-million mark per tola. Domestic traders and investors are keeping a close watch on two key factors:
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The Islamabad Summit: If the Friday-Saturday talks between the U.S. and Iran yield a “conclusive agreement,” gold could see further corrections as regional risk premiums disappear.
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Currency Stability: The Pakistani Rupee’s performance against the USD will continue to play a critical role in determining local bullion rates.
As the capital remains under a high-security lockdown for visiting delegations, the Sarafa markets in Karachi and Lahore are operating with caution, anticipating further price swings as diplomatic news filters through.
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