Gold prices drop below Rs5 lac mark in Pakistan before Eid al Fitr

Karachi: Gold prices in Pakistan fell sharply on Thursday, March 19, 2026, ahead of Eid ul Fitr, following a downward trend in the international bullion market, the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported.

The price of 24-karat gold per tola declined by Rs24,300, closing at Rs499,462.

Similarly, the price of 10 grams of 24-karat gold dropped by Rs20,833, settling at Rs428,208.

Silver prices also witnessed a significant decline, falling by Rs760 to Rs7,734 per tola.

In the international market, gold prices decreased by $243 to reach $4,767 per ounce.

Analysts attributed the volatility to rising oil prices amid escalating airstrikes by the United States and Israel against Iran, which have heightened geopolitical and economic uncertainty.

Despite the recent decline, experts remain bullish on gold in the long term, citing its status as a safe-haven asset during periods of global instability. They noted that gold’s intrinsic value, limited supply, and independence from government or central bank policies make it a reliable hedge against inflation, currency depreciation, and market volatility.

Geopolitical tensions, trade disputes, and market instability often drive investors away from riskier assets, such as equities and speculative currencies, increasing demand for bullion.

Gold continues to serve not only as an ornamental asset but also as a financial safeguard, with its appeal strengthening amid persistent global economic and political uncertainty.