Gold prices show sharp fluctuations in Pakistan during last week

ISLAMABAD: Gold prices in Pakistan witnessed significant volatility over the past week, reflecting rapid changes in international bullion markets and currency movements.

At the beginning of the week, the price of 24-karat gold stood at around Rs. 523,762 per tola, while 10 grams were priced near Rs. 449,041, according to bullion market data.

However, prices saw a sharp decline mid-week. By March 19, the rate of 24-karat gold dropped to approximately Rs. 499,462 per tola, with 10 grams falling to around Rs. 428,208, marking a significant decrease of over Rs. 24,000 per tola in a single day.

Towards the end of the week, gold prices showed signs of recovery in line with global trends. Latest available figures indicate that 24-karat gold rebounded to around Rs. 546,000 per tola, while 10 grams reached approximately Rs. 468,000 in the local market.

Market experts attributed these fluctuations to:

• Changes in international gold prices
• Volatility in the Pakistani rupee against the US dollar
• Rising geopolitical tensions increasing safe-haven demand

Despite the recovery, analysts warn that gold prices are likely to remain unstable in the short term, as global economic uncertainty and geopolitical developments continue to influence the bullion market.

Overall, the past week highlighted a wide trading range of roughly Rs. 499,000 to Rs. 546,000 per tola, underscoring gold’s sensitivity to both domestic and international economic pressures.