Gold prices in Pakistan fell sharply on Monday, September 28, with the 24-karat rate declining by Rs12,800 per tola as the domestic market followed a steep drop in international bullion prices.
Rates shared by the All-Pakistan Gems and Jewellers Sarafa Association put the local price at Rs438,136 per tola after the decline. The price of 10 grams of 24-karat gold fell by Rs10,973 to Rs375,631.
The timing is important: the Rs12,800 movement was Monday’s decline and should not be read as a fresh fall recorded on Tuesday.
The local correction followed weakness in the international market. Business Recorder reported the international gold rate at $4,156 an ounce after a decline of $128, while reporting on Tuesday also linked the sell-off to higher US Treasury yields.
Gold had already eased in the preceding session. The domestic rate stood at Rs450,936 per tola on Saturday after a Rs2,100 decline, meaning Monday’s move represented a much larger one-day adjustment.
Bullion prices are sensitive to changes in global interest-rate expectations because gold does not pay interest. When government bond yields rise, the opportunity cost of holding non-yielding assets such as gold can increase. Currency movements and safe-haven demand can also produce large swings in international prices.
Pakistan’s domestic gold market is influenced by international bullion prices as well as the rupee-dollar exchange rate. As a result, movements in the global market do not always translate one-for-one into local prices, particularly when the currency is moving at the same time.
The latest decline comes after gold had traded at historically elevated levels, leaving the market vulnerable to sharp corrections when international conditions change. For buyers in Pakistan, the fall reduces the rupee price from the previous session’s level, although the metal remains expensive in absolute terms.
Silver also moved lower on Monday, according to the same market reporting, but the principal movement was in gold.
Daily bullion rates can change rapidly and may differ slightly across cities and dealers. The association rate is therefore best treated as the market benchmark for the session rather than a guaranteed retail quotation at every jeweller.
For Pakistan Report’s purposes, the verified development is the Monday correction: 24-karat gold fell Rs12,800 to Rs438,136 per tola, while 10-gram gold declined to Rs375,631 as international bullion prices weakened.