LAHORE – Gold prices in Pakistan wiped out nearly Rs16,000 per tola in just two trading sessions, pushing the precious metal dangerously close to the Rs400,000 mark amid a sharp downturn in international bullion markets.
The latest market figures revealed that 24-karat gold plunged by Rs10,800 per tola on Saturday, October 31, settling at Rs409,736. The price of 10 grams of pure gold also declined by Rs9,259 to Rs351,282, offering some relief to jewellery buyers while raising fresh concerns among investors about further price volatility.
Latest Gold Prices in Pakistan
| Category | Latest Rate |
|---|---|
| 24K Gold Per Tola | Rs409,736 |
| 24K Gold Per 10 Grams | Rs351,282 |
| International Gold Per Ounce | $3,872 |
| Silver Per Tola | Rs5,388 |
Gold Prices Fall Sharply in Just 48 Hours
The final two trading sessions of October proved particularly difficult for Pakistan’s gold market as prices recorded successive declines. Gold was trading at Rs425,636 per tola on Thursday before losing Rs5,100 on Friday, bringing the price down to Rs420,536.
The selling pressure intensified on Saturday, resulting in a further reduction of Rs10,800 and dragging the benchmark rate to Rs409,736.
Latest 22K, 21K and 18K Gold Rates
| Weight | 22K Gold | 21K Gold | 18K Gold |
|---|---|---|---|
| Per Tola | Rs375,833 | Rs358,750 | Rs307,500 |
| Per Gram | Rs32,221 | Rs30,757. | Rs26,363 |
| Per 10 Grams | Rs322,217 | Rs307,571. | Rs263,632 |
| Per Ounce | Rs913,275 | Rs871,762 | Rs747,225 |
These are the reported indicative quotations, while jewellery prices at retail outlets may include additional manufacturing charges, dealer margins and taxes.
Global Gold Prices Drop $108 Per Ounce
The extraordinary decline in Pakistan came alongside a major correction in the international bullion market. Global gold prices reportedly slipped from $3,980 to $3,872 per ounce, registering a substantial single-session reduction of $108.
The international decline represented a drop of approximately 2.7%, placing additional downward pressure on domestic bullion prices.
Lahore and Karachi Gold Rates
| Local Market Category | Reported Rate |
|---|---|
| Lahore Gold Piece | Rs406,500 / Rs406,000 |
| Lahore Pathoor Gold | Rs401,500 / Rs399,500 |
| Lahore 22K Gold | Rs372,625 |
| Lahore 21K Gold | Rs355,687 |
| Karachi Gold Selling Rate | Rs408,000 |
Silver Rates in Pakistan
| Silver Category | Reported Quotation |
|---|---|
| 999.0 Tezabi Silver | Rs5,150 |
| Silver 1KG Bar | Rs5,200 |
| 10-Tola Silver Piece | Rs5,250 |
The Lahore quotations have been retained as reported. Their precise pricing basis was not specified, meaning the figures should not be treated as directly comparable rates per kilogram or per 10 tolas.
Following last month’s dramatic closing losses, bullion traders and jewellery buyers are closely watching whether the price of gold will breach the Rs400,000 threshold. At October 31 closing rate of Rs409,736 per tola, gold would need to lose another Rs9,736, equivalent to approximately 2.38%, to reach Rs400,000.
A further decline would put the price below that psychological benchmark, although there is no guarantee that the downward trend will continue.
A recovery in international gold prices or changes in the domestic exchange rate could also reverse some of the recent losses.
The latest correction could prove beneficial for consumers preparing for weddings, engagements and other occasions involving jewellery purchases. Lower bullion rates generally reduce the underlying metal cost of gold ornaments, although final retail prices also depend on making charges and other expenses.
For investors, the sharp sell-off serves as a reminder that gold prices can experience considerable short-term fluctuations despite the metal’s traditional reputation as a store of value. The coming trading sessions will be particularly important in determining whether the latest decline attracts fresh buying interest or whether continued international selling pressure pushes domestic prices lower.
Big Drop in Gold Prices as Per Tola Rate sinks below Rs410,000 in Pakistan
