The gold prices in Pakistan and globally have nosedived, marking the steepest single-day drop ever recorded.
The sudden plunge comes as the US-China tariff war takes another unpredictable turn, sending shockwaves through financial markets.
Gold in Freefall
The All Pakistan Sarafa Gems and Jewellers Association reported a jaw-dropping decline in gold prices:
- 24-karat gold (per tola): Dropped by Rs11,700, settling at Rs352,000.
- 10 grams of gold: Fell by Rs10,031, now priced at Rs301,783.
The global market mirrored the chaos, with gold per ounce tumbling by 116∗∗to∗∗116∗∗to∗∗3,338—an unprecedented slump that has investors scrambling.
Silver Bucks the Trend
While gold tanked, silver prices defied expectations and climbed:
- 24-karat silver (per tola): Rose by Rs16, reaching Rs3,457.
- 10 grams of silver: Gained Rs13, now at Rs2,963.
Globally, silver inched up by 0.16∗∗to∗∗0.16∗∗to∗∗32.93 per ounce.
What’s Behind the Collapse?
Market analysts blame the dramatic shift on escalating US-China trade tensions, which have triggered a sell-off in gold as investors pivot to other assets. The uncertainty has left traders on edge, with many bracing for further volatility.
For gold buyers, this could be a rare window to buy low—but experts warn the market remains unpredictable. One thing’s certain: after today’s historic drop, no one’s taking stability for granted anymore.
