KARACHI: Gold prices in Pakistan witnessed a sharp decline on Friday, June 19, 2026, in line with a downward trend in the international bullion market amid easing geopolitical tensions in the Middle East.
The price of 24-karat gold per tola fell by Rs14,900 to settle at Rs438,036, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.
Similarly, the price of 10 grams of 24-karat gold decreased by Rs13,410 to Rs374,205, while 10 grams of 22-karat gold declined by Rs12,190 to Rs343,325.
In the international market, gold prices dropped by $149 to $4,156 per ounce.
Meanwhile, the price of silver per tola fell by Rs413 to Rs6,946, while the rate for 10 grams of silver declined by Rs373 to Rs5,895.
The international silver price also decreased by $4.13 to $64.67 per ounce, according to the association.
The decline in precious metal prices came after the presidents of the United States and Iran electronically signed the Islamabad Memorandum of Understanding, extending their ceasefire and paving the way for the reopening of the Strait of Hormuz.
Market analysts attributed the sharp drop in gold prices to improving investor sentiment following diplomatic progress between Washington and Tehran, which eased concerns over regional instability and disruptions to global energy supplies.
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The reduction in geopolitical risks weakened demand for safe-haven assets such as gold, placing downward pressure on prices in both international and domestic markets.
Despite the recent decline, analysts remain optimistic about gold’s long-term outlook, citing its traditional role as a hedge against inflation, currency depreciation, and geopolitical uncertainty.
Investors are closely monitoring developments in the Middle East, including efforts to preserve the ceasefire and ongoing diplomatic engagement among regional and global powers.
Meanwhile, Prime Minister Shehbaz Sharif welcomed the signing of the Islamabad Memorandum of Understanding between the United States and Iran. In a statement posted on X, he described the agreement as a positive step toward regional peace, stability, and economic cooperation.