Gold prices in Pakistan were unchanged on Tuesday, while silver fell, according to rates shared by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) in Karachi. The association put 24 karat gold at Rs 412,136 per tola, or Rs 353,340 for 10 grams, the same as the previous reading.
The 22 karat rate also held steady at Rs 323,906 per 10 grams. Silver was down Rs 120 per tola and Rs 4,602 per 10 grams.
Live ratesGold rate today in Pakistan: 24K, 22K and 21K per tola →
Local board rates and the national benchmark
The figures are the national benchmark, based on the interbank exchange rate and 999 purity for gold. Local Sarafa boards in various cities may buy slightly higher during the session, and the Karachi board was reported at around Rs 413,800 per tola later in the day. The difference reflects dealer spreads and in-the-moment adjustments.
Also read: Gold prices in Pakistan drop sharply by Rs5,100 per tola · Pakistan gold rate drops as stronger dollar weighs on bullion
Internationally, the association’s two reference points put gold at roughly $3,896 per ounce, while live spot prices were trading in a broader range near $3,900 to $3,940. The association posted silver at $48.90 per ounce, down around $1.20 in some reports, though live international quotes were near $49 to $50.
Local rates track the international spot price, translated through the USD/PKR exchange rate. Movements in the dollar, global risk appetite and industrial demand for silver all have a direct impact on Sarafa prices.
Gold’s slide from 2026 peaks and silver’s volatility
Tuesday’s flat reading contrasted with a Rs 2,400 gain in gold the previous day, which lifted the metal to its current level of Rs 412,136. The longer-term picture is a steep decline from earlier highs. Gold traded well above Rs 500,000 per tola earlier in the year, and highs were reported near Rs 541,000 in March before prices fell through the autumn to the Rs 400,000 to Rs 430,000 range in October.
Silver has been more volatile. After rising a day earlier, it retreated on Tuesday, tracking softer global rates. Participants pointed to sensitivity to industrial demand from the solar, electronics and other industries, as well as the gold-silver ratio.
Dealers watch US data and the dollar
Participants said local bullion remains closely tied to global rates and the rupee’s movement against the dollar. Local rupee rates have surged when the dollar weakened in global markets, independent of dollar rate movements. Jewellery, wedding-season and investment demand still affect intraday quotations, though their impact has diminished because absolute price levels are very high.
For now, dealers and analysts are looking to US data, Federal Reserve guidance, global geopolitics and the dollar’s trend for further signals. Following Monday’s rally and silver’s decline, the market remains in consolidation after more pronounced price moves through much of 2026.
