Gold rates in Pakistan eased by Rs8,000 per tola over the past week to close on Saturday at Rs410,000, a fall of 1.91%. The local rate climbed through Wednesday to Rs422,700, then gave back more than all of those gains over the last three sessions as international gold broke below 4,000 dollars an ounce and hit its lowest level of 2026. Saturday's close is also the lowest local rate of the past 30 trading days.

The week unfolded in stages. International gold opened the week just under 4,000 dollars an ounce, close to where it had finished the previous Friday. On Tuesday, higher oil prices revived inflation concerns tied to renewed fighting in the Middle East, and gold gained roughly 1% heading into the Federal Reserve meeting. Wednesday brought the Fed decision: rates held at 3.75% to 4.00%, but the vote was split 10-2, with both dissenters favouring an immediate hike. Spot gold was quoted about 0.5% lower at 4,039 dollars after the decision, though it recovered late on Wednesday to the week's high near 4,083 dollars.

Saturday's sharp drop

Saturday's Rs7,500 drop captured Friday's global slump, which happened after Friday's local benchmark had already been set. From the high, the rate fell Rs12,700 in three sessions to finish at the week's low. Against the previous Saturday's Rs418,000, the one-tola gold price ended Rs8,000 lower. Per 10 grams, 24-karat gold closed at Rs351,515.

Friday's wider market picture fits the same pattern: gold fell 0.89% to 3,984.72 dollars an ounce, while Brent crude rose 0.87% to 115.88 dollars a barrel, amid continued uncertainty over the Middle East conflict and the possibility of further US interest rate increases. Local rates are sourced from the Karachi Sarafa benchmark and are indicative: they may vary slightly between cities and jewellers, and they exclude making charges. Confirm the current rate before buying or selling.