KARACHI: The gold market in Pakistan witnessed a significant decline on October 28, 2025, continuing a downward trend that has surprised both traders and investors. According to the All Pakistan Gems and Jewellers Association (APGJA), the price of 24-karat gold dropped by Rs2,800 per tola, bringing the new rate to Rs239,200.
Local Market Reaction
Gold traders across Karachi, Lahore, and Islamabad noted a sharp decline in buyer activity. Many buyers are holding back, anticipating further drops in prices over the next few days. Meanwhile, jewellers say this price dip could attract new investors to the precious metals market.
According to experts, fluctuations in international gold rates and the strengthening of the Pakistani rupee against the US dollar have directly impacted the local bullion market.
Global Gold Trends
On the global front, spot gold prices fell to $2,298 per ounce, reflecting uncertainty in global economic conditions. Analysts attribute this to a stronger US dollar and rising bond yields, which have reduced investor interest in safe-haven assets like gold.
However, some market experts believe that the decline may be temporary, as inflation and geopolitical tensions could push investors back toward gold in the coming weeks.
Investor Insight
Gold traders in Pakistan are closely monitoring the global markets for cues on future trends. Analysts suggest that those planning to invest in gold should observe the market carefully, as short-term volatility may lead to further adjustments.
“Price correction phases like these are natural,” said a Karachi-based bullion dealer. “Smart investors see this as an opportunity to buy at lower levels before prices rebound.”
Outlook for Coming Days
Economists predict that if the rupee continues to strengthen, gold prices may see another mild reduction in the first week of November. However, any surge in international prices could reverse the local trend.
The gold market, therefore, remains unpredictable — offering both risk and opportunity for investors in Pakistan.
