Islamabad, Pakistan — Gold prices in Pakistan fell sharply on March 23, 2026, dropping by Rs43,600 per tola to reach Rs447,762 for 24-karat gold as international markets reacted to the ongoing Middle East conflict. The steep decline comes after gold recorded its biggest weekly loss in nearly 43 years, driven by soaring oil prices, rising inflation fears, and expectations of higher global interest rates. Spot gold fell more than 6 percent to $4,203.21 per ounce, its lowest level since November 2024, while US gold futures also tumbled. This sharp correction has eased some pressure on local jewelers and buyers but reflects the broader impact of global uncertainty on Pakistan’s precious metals market.
ملک بھر میں فی تولہ سونےکی قیمت میں 8100روپےکی کمی ہوئی ہے جسکےبعد فی تولہ سونا4لاکھ91 ہزار362روپےکا ہوگیا ہے۔10 گرام سونے کابھاؤ 6ہزار 945روپےکم ہوکر 4لاکھ21ہزار 263 روپے کا ہوگیا ہے۔عالمی بازار میں سونے کا بھاؤ 81 ڈالر کم ہوکر 4686 ڈالر فی اونس ہوگیا ہے۔#Gold #Fuel #Diesel…
— Azaz Syed (@AzazSyed) March 20, 2026
Key Highlights
- Gold price in Pakistan declines by Rs43,600 per tola to Rs447,762 for 24-karat.
- International spot gold drops 6.3 percent to $4,203.21 per ounce, its lowest since November 2024.
- Metal logged its biggest weekly loss in 43 years due to escalating Iran conflict and oil price surge.
- US crude rose above $95 per barrel and Brent climbed over $102 as shipping routes face disruption.
Other precious metals, including silver and platinum, also recorded significant declines.
Global Conflict Weighs on Safe-Haven Demand
The sharp fall in gold prices is directly linked to the prolonged US-Israel conflict with Iran, which has pushed oil prices higher and raised fears of persistent inflation. As investors shifted toward higher-yielding assets amid expectations of delayed interest rate cuts, the traditional appeal of gold as a safe haven weakened. Analysts noted that the closure of the Strait of Hormuz has further fueled uncertainty in global energy markets, indirectly affecting commodity prices including gold.
Impact on Local Market and Investors
In Pakistan, the drop offers some relief to buyers after weeks of record-high prices. Jewelers and investors are closely watching global trends, as any further escalation in the Middle East could bring fresh volatility. The government continues to monitor the situation, ensuring that essential sectors remain protected amid these external pressures. While the decline may encourage some buying activity, experts advise caution as the broader economic outlook remains tied to developments in the Gulf region.
Pakistan’s economy has shown resilience in navigating global commodity swings in the past. With careful monitoring and prudent policies, the country aims to shield everyday citizens from the full impact of these international fluctuations while keeping markets stable.
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