KARACHI: Gold prices registered a significant decline in Pakistan on Monday, June 8, 2026, in line with a downward trend in the international bullion market, amid rising oil prices following renewed hostilities between Iran and Israel.
According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola fell by Rs3,094 to Rs452,233, compared to Rs455,327 in the previous trading session.
Similarly, the price of 10 grams of 24-karat gold decreased by Rs2,785 to Rs386,987, down from Rs389,772 a day earlier.
In the international market, gold prices declined by $30 per ounce to $4,297, compared to $4,328.92 in the previous session.
Silver prices also posted losses in the local market. The price of silver per tola dropped by Rs94 to Rs7,173, compared to Rs7,267 in the previous trading session.
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Meanwhile, explosions were reported in Tehran, Tabriz and Isfahan early Monday, according to local media, dampening hopes for a swift de-escalation of tensions and the resumption of crude oil flows through the Strait of Hormuz.
Market analysts attributed the fall in precious metal prices to shifting investor sentiment and fluctuating demand for safe-haven assets amid ongoing geopolitical and economic uncertainties.
Investors are closely watching developments in the Middle East, including the fragile ceasefire between Israel and Hezbollah, as well as diplomatic engagements involving the United States and Iran.
Despite short-term volatility, analysts remain optimistic about gold’s long-term outlook, citing its traditional role as a hedge against inflation, currency depreciation and geopolitical risks.