KARACHI: Gold prices in Pakistan fell on Wednesday, April 29, 2026, in line with a downward trend in the international bullion market amid evolving geopolitical developments.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs5,500 to Rs479,562, down from Rs485,062 in the previous session.
Similarly, the price of 10 grams of 24-karat gold dropped by Rs4,715 to Rs411,147, compared to Rs415,862 earlier.
In the international market, gold prices declined by $55 per ounce to settle at $4,572, compared to $4,627 in the previous session.
Meanwhile, silver prices in the local market also recorded a decline, with the per tola rate falling by Rs45 to Rs7,766 from Rs7,811.
Market analysts attributed the fluctuations in bullion prices to shifting geopolitical conditions and ongoing diplomatic developments, particularly involving the United States and Iran, as efforts toward de-escalation continue.
Analysts maintain a positive long-term outlook for gold, citing its role as a safe-haven asset during periods of economic and geopolitical uncertainty. They note that gold continues to attract investors due to its intrinsic value, limited supply, and independence from government policy, making it a reliable hedge against inflation, currency depreciation, and market volatility.
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Historically, geopolitical tensions and financial instability have driven investors toward bullion and away from riskier assets such as equities and speculative currencies.
Gold remains not only a traditional ornamental commodity but also a key financial safe haven, with demand typically rising during periods of global uncertainty.