Gold Prices in Pakistan Fall Sharply Amid Global Bullion Market Downturn

May 14, 2026

3 min read

Gold prices in Pakistan have dropped significantly in recent days, mirroring a broader decline in the international bullion market. The dip has caught the attention of buyers, many of whom are now eyeing this as a potential opportunity to purchase gold at more favorable rates.

Widely regarded as a reliable store of value and a safe-haven investment, gold holds a central place in both global finance and everyday Pakistani households. However, shifting dynamics in the international market have pushed prices noticeably lower down by as much as Rs. 5,000 with considerable fluctuation observed over the past several weeks.

What Is the Rate of 24K Gold in Pakistan?

The price of 24K gold in Pakistan has seen a marked decline amid growing uncertainty in both local and global markets. On May 2nd, 2026, the rate stood at PKR Rs. 481,800 per tola. By May 4th, it had fallen to PKR Rs. 478,800 per tola; a drop of approximately Rs. 3,000.

This price movement has had a ripple effect across the country, impacting jewellers, consumers, and investors alike. According to official rates, selling pressure in the precious metals market was notably stronger on Monday compared to the previous Saturday, deepening the decline further.

Market traders are closely monitoring international signals as they weigh their next moves in an increasingly volatile environment.

How Much Is 22K Gold Today?

The current rate of 22K gold in Pakistan stands at PKR Rs. 439,541.67 per tola.

It is worth noting that gold prices in Pakistan are not fixed; they fluctuate multiple times throughout the day in line with movements in the international market. The rates cited above are sourced from local gold markets and Sarafa Markets across major cities in Pakistan, and should be verified at the time of purchase for the most up-to-date figures.

Gold Price Data: 2016 - 2026 and What Comes Next?

Pakistan's gold market has witnessed one of the most dramatic price surges in its history over the past decade. Driven by two compounding forces, global USD gold prices and PKR/USD exchange rate depreciation. The price of 24K gold per tola has risen nearly 10 times in just ten years.

There is an approximately 75% probability of an increase of the gold price over the next 12 months.

The only scenario in which gold falls in Pakistan requires two things to happen simultaneously:

• The global USD gold price drops significantly

• The PKR strengthens against the dollar (e.g., via successful IMF reform)

Both happening together is historically rare. This gives the bearish scenario only about a 10% real probability and even in the bear case, prices would still likely remain far above 2022 levels.

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