KARACHI: On Monday, March 9, 2026, the price of gold in Pakistan experienced a notable decline, mirroring a downturn in the global bullion market. The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) confirmed that the cost of 24-karat gold per tola dropped by Rs6,500, closing at Rs533,362 compared to Rs539,862 recorded on the previous trading day. This downward movement reflects the sensitivity of local gold prices to shifts in international markets.
In addition to the tola measurement, the price of 10 grams of 24-karat gold also saw a significant decrease, falling by Rs5,573 to settle at Rs457,271, down from Rs462,844. This decline in gold prices was accompanied by a slight reduction in silver rates, with the price of silver per tola slipping by Rs37 to Rs8,894 from Rs8,931 the day before. These changes indicate a broader softening in precious metal prices within Pakistan’s market.
On the international front, gold prices dropped by $65, settling at $5,106 per ounce. This fall comes amid a backdrop of rising oil prices triggered by escalating air strikes conducted by the United States and Israel against Iran. These military actions have intensified geopolitical tensions and contributed to economic uncertainty, factors that traditionally influence commodity markets including precious metals.
Despite the recent dip, market analysts maintain a cautiously optimistic outlook for gold. They emphasize that ongoing global economic instability and persistent demand for safe-haven assets continue to underpin the metal’s value. Gold’s intrinsic worth, coupled with its limited availability and relative insulation from direct government or central bank interventions, makes it a preferred asset for investors seeking protection against inflation, currency fluctuations, and broader financial market volatility.
Furthermore, geopolitical conflicts, trade disputes, and unpredictable market conditions often drive investors away from riskier options such as equities and speculative currencies. This shift typically boosts demand for bullion, reinforcing gold’s role as a reliable store of value. Historically regarded as a symbol of wealth and financial security, gold remains more than just an ornamental commodity; it serves as a critical hedge during times of global political and economic uncertainty.
