KARACHI – Gold prices in Pakistan fell below the Rs450,000-per-tola mark on September 15, as a sharp decline in international bullion prices weighed on the domestic market.
On second consecutive day this week, the price moved down as 24-karat gold fell by Rs4,000 per tola to Rs449,336, down from Rs453,336 recorded a day earlier. The price of 10 grams also declined by Rs3,429, settling at Rs385,233.
| Gold | Latest Rate |
| 24K Gold — per tola | Rs449,336 |
| 24K Gold — 10 grams | Rs385,233 |
| Silver — per tola | Rs6,802 |
| International Gold | $4,268 |
The latest move extends a broader correction in the local bullion market. Gold had already shed Rs3,800 per tola on Monday, adding to selling pressure after prices moved significantly lower from their 2026 peak.
The decline in Pakistan followed weakness in the international market, where gold fell by around $40 per ounce to $4,268. Global bullion prices have remained volatile as investors assess the outlook for US monetary policy, the dollar and broader economic conditions.
Silver remained broadly stable in the local market, with the metal trading at around Rs6,802 per tola.
Despite the recent correction, gold prices in Pakistan remain substantially higher than they were a year ago. By mid-September, domestic 24K gold has generally been trading in the Rs444,000–Rs449,000-per-tola range, while international bullion has remained around $4,260–$4,275 per ounce.
With the rupee trading at around Rs277 per US dollar, relative currency stability has meant that recent changes in Pakistan’s gold prices have largely reflected developments in the international bullion market.
The outlook for the remainder of 2026 remains uncertain, but analysts and major financial institutions continue to see significant potential for gold over the longer term.
Year-end international price forecasts cited in the market range broadly between $4,300 and $4,900 per ounce, while some longer-range projections have moved above the $5,000-per-ounce level.
If international gold moves towards $4,500–$4,900 per ounce, Pakistani prices could once again approach the upper end of the Rs400,000 range per tola. A weakening rupee would provide an additional boost to domestic prices because each dollar-denominated ounce of gold would translate into more rupees.
The opposite scenario is also possible. A stronger US dollar, higher real interest rates, weaker investment demand or a reduction in geopolitical uncertainty could reduce demand for gold and extend the current correction.
For Pakistani consumers, the recent fall offers little indication that gold has entered a sustained long-term decline. Prices remain at historically elevated levels even after retreating from their 2026 high.
Gold Price in Pakistan drops to Rs4.53 Lac per Tola after Negative Week Opening
