KARACHI – Gold prices in Pakistan moved down on last working day of the week. On September 26, the price of 24-karat gold declined by Rs2,100 per tola to Rs450,936, while the rate for 10 grams dropped by Rs1,800 to Rs386,604.
The latest decline came after a strong rally on Friday, when gold had jumped Rs4,700 per tola to reach Rs453,036. The international gold rate also weakened on Saturday, falling $21 to $4,284 per ounce.
Meanwhile, silver prices moved lower in the domestic market, with the rate declining by Rs60 per tola to Rs6,903.
| Gold | New Price |
|---|---|
| 24K Gold — Per Tola | Rs450,936 |
| 24K Gold — 10 Grams | Rs386,604 |
| International Gold | $4,284 |
| Silver — Per Tola | Rs6,903 |
Gold Price Trends
Gold prices have experienced considerable fluctuations during September, with the market moving sharply in both directions over the past several sessions. 24K Karat rate stood at Rs443,647 per tola on September 16 before climbing steadily over the next few sessions.
It jumped to Rs447,428 on September 17, followed by Rs450,224 on September 18 and Rs451,550 on September 19, marking the highest level in the 10-day period. Prices then began to retreat, slipping to Rs451,350 on September 20, Rs450,242 on September 21 and Rs449,462 on September 22.
The decline accelerated on September 23, when the rate fell by Rs3,054 to Rs446,408. Gold dropped further to Rs445,029 on September 24 before recovering slightly to Rs445,687 on September 25.
Gold Price in Pakistan — Last 10 Days
| Date | Price Per Tola | Change |
|---|---|---|
| September 16 | Rs443,647 | — |
| September 17 | Rs447,428 | +Rs3,781 |
| September 18 | Rs450,224 | +Rs2,796 |
| September 19 | Rs451,550 | +Rs1,326 |
| September 20 | Rs451,350 | -Rs200 |
| September 21 | Rs450,242 | -Rs1,108 |
| September 22 | Rs449,462 | -Rs780 |
| September 23 | Rs446,408 | -Rs3,054 |
| September 24 | Rs445,029 | -Rs1,379 |
| September 25 | Rs445,687 | +Rs658 |
| September 26 | ~Rs443,981 | ~-Rs1,700 |
Market rates can vary depending on the city, dealer, timing and whether Rawa or TT-Bar prices are being quoted. One tola is equivalent to approximately 11.664 grams.
Gold’s Run in 2026
Gold has gone through a highly volatile period in Pakistan this year. The precious metal surged dramatically during the opening months of 2026 and reached an all-time high of around Rs572,862 per tola in late January.
A major correction followed, pushing prices considerably lower. By the end of FY2026 on June 30, gold was trading around Rs424,836 per tola. Despite the correction from the January record, the June level was still around 21% higher than the approximately Rs350,200 per tola recorded at the beginning of FY2026.
Bullion recovered during August and early September, with prices moving above Rs460,000 per tola before losing momentum again in recent weeks. The latest decline has brought the Rawa market back toward the Rs444,000-per-tola range.
Gold prices in Pakistan are influenced primarily by movements in the international bullion market and the US dollar-rupee exchange rate. When international gold rises, domestic prices generally come under upward pressure. A weaker rupee can further increase the local price because gold is internationally priced in dollars.
Local Sarafa market conditions, premiums and dealer quotations can also cause differences between rates available in different cities and markets. Globally, gold prices remain sensitive to expectations surrounding US interest rates, bond yields, the strength of the dollar, geopolitical developments and investment demand.
International forecasts for the remainder of 2026 remain spread across a relatively wide range. Recent bank and analyst projections have generally placed potential fourth-quarter gold prices around $4,400 to $5,000 or more per ounce, while some earlier forecasts had pointed toward $5,000–$6,000. LBMA-related expectations have been around an average of $4,500.
For Pakistani consumers, the eventual domestic price will depend on both international bullion rates and the rupee-dollar exchange rate. If international gold continues to strengthen or the rupee loses value, local prices could move back toward the higher end of the Rs400,000s per tola.
Gold Rate in Pakistan jumps to Rs4.53 Lac Per Tola; Check New Price
