Gold prices crash by Rs35,500 as Pakistan reacts to global slump

Gold prices crash by Rs35,500 as Pakistan reacts to global slump

Gold prices slide Rs35,500 in a day, buyers stunned by sudden fall. File photo

January, 30 2026

KARACHI (Web Desk): Gold prices declined sharply in the local market as 24-karat gold per tola decreased by Rs35,500 to Rs537,362.

Triggering concern among traders and buyers alike, the sudden drop surprised the bullion market, where demand weakened after prices stayed high for several days. Traders said the sharp fall changed buying sentiment overnight.

The price of 10 grams of 24-karat gold dropped by Rs30,435 to Rs460,701. Meanwhile, 10 grams of 22-karat gold declined by Rs27,900 to Rs422,324, according to the All Pakistan Sarafa Gems and Jewellers Association.

Silver prices also followed the downward path. The price of 24-karat silver per tola decreased by Rs1,106 to Rs11,069, while 10 grams of silver fell by Rs949 to Rs9,489.

In the international market, gold prices slipped by $355 to $5,150 per ounce. Silver prices also fell by $11.06 to $105.94 per ounce, the association reported, adding pressure on domestic prices.

The Rs35,500 drop may bring cautious buyers back into the market. Global price weakness is directly influencing local rates. Volatility is keeping traders alert and hesitant.