Gold prices witness major drop in Pakistan — May 15, 2026

KARACHI: Gold prices in Pakistan witnessed one of the biggest single-day declines on Friday, May 15, 2026, in line with a downward trend in the international bullion market amid fluctuating global economic conditions.

According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs15,500 to settle at Rs476,862, compared to Rs492,362 on the previous trading day.

Similarly, the price of 10 grams of 24-karat gold dropped by Rs13,289 to Rs408,832, down from Rs422,121.

In the international market, gold prices plunged by $155 per ounce to settle at $4,545, compared to the previous rate of $4,700 per ounce.

Meanwhile, silver prices also recorded a sharp decline. The price of silver per tola decreased by Rs972 to Rs8,232 from Rs9,204.

Market analysts attributed the volatility in bullion prices to shifting geopolitical developments, particularly tensions and diplomatic signals involving the United States and Iran, along with broader global economic uncertainty.

“The comments from the Trump administration that the ceasefire is holding, along with lingering optimism about a potential US-Iran deal, are supporting the gold market for now,” said Kyle Rodda.

Check here: SILVER RATE – DAILY UPDATES

Despite short-term fluctuations, analysts maintained a positive long-term outlook for gold, citing its continued appeal as a safe-haven asset during periods of economic and geopolitical uncertainty.

They noted that gold remains attractive due to its intrinsic value, limited supply and relative independence from government policies, making it an effective hedge against inflation, currency depreciation and market volatility.

Historically, periods of global uncertainty have driven investors toward bullion while reducing demand for riskier assets such as equities and speculative currencies.

Gold continues to serve both as a traditional ornamental commodity and a key financial safe-haven asset, with demand typically strengthening during periods of global instability.