Gold prices in Pakistan recorded a sharp decline on Friday, October 23, 2026, as the price of 24-karat gold fell by Rs. 7,000 per tola in the local market. Following the latest drop, the price of one tola of gold reached Rs. 424,536.
The decline comes after gold prices also fell on Thursday, putting buyers and investors on alert as the precious metal continues to experience changes in both local and international markets.
The latest reduction may provide some relief to people planning to purchase gold jewellery. However, prices remain subject to further changes depending on international market movements and local market conditions.
10-Gram Gold Price Also Drops
According to the latest market rates, the price of 10 grams of 24-karat gold decreased by Rs. 6,001 on Friday. The price settled at Rs. 363,971.
The fall in both per-tola and 10-gram rates reflects the sharp downward movement in the local gold market. Buyers are likely to keep a close watch on prices before making purchasing decisions, particularly ahead of weddings and other occasions when gold jewellery is in demand.
Gold remains an important investment and a popular choice for jewellery in Pakistan. Even a small change in its price can affect the cost of purchases and the value of gold held by investors.
International Gold Prices Also Decline
The fall in Pakistan’s gold market followed a decline in international gold prices. Gold in the global market dropped by $70 per ounce to reach $4,020.
International prices play an important role in determining local gold rates. Changes in global demand, investor activity and wider economic conditions can influence gold prices around the world.
When international rates fall, local prices may also decline, although exchange rates and domestic market factors can affect the final price in Pakistan.
The latest international drop was followed by a significant reduction in local rates, adding to the downward movement seen over the past two days.
Gold Prices Fell on Thursday Too
Gold prices in Pakistan had already declined on Thursday. The price of one tola fell by Rs. 3,000 to settle at Rs. 431,536.
The additional Rs. 7,000 reduction on Friday brought the price down to Rs. 424,536 per tola. This means gold lost Rs. 10,000 per tola across the two reported trading sessions.
The consecutive declines show how quickly gold prices can change. Buyers and investors should check the latest market rates before purchasing or selling gold, as prices may continue to fluctuate.
Silver Prices Also Record a Decline
Silver prices also moved lower in Pakistan on Friday. The price of silver fell by Rs. 221 per tola to reach Rs. 5,865.
The decline in silver came alongside the fall in gold prices, reflecting a weaker trend in the precious metals market.
Market participants will continue to monitor international prices and local trading activity to assess the direction of gold and silver rates in the coming sessions.
For consumers, the latest decline means gold jewellery may cost less than it did earlier in the week, depending on the jewellery’s weight, purity and making charges. However, anyone planning a purchase should confirm the current rate with a jeweller before completing a transaction.
