Pakistan Gold Prices Surge After Two-Day Decline

Gold prices in Pakistan experienced significant volatility between September 15 and September 16, 2026. After two consecutive sessions of decline, prices surged by approximately Rs8,000 per tola on Wednesday to reach Rs457,236, supported by a gain of $79 per ounce in the international bullion market.

Earlier, the All Pakistan Sarafa Gems and Jewelers Association reported a downturn on September 15, with 24-karat gold falling Rs4,000 per tola to settle at Rs449,336. This decline followed a previous drop of Rs3,800 on Monday. The domestic slump mirrored international trends where spot gold fell toward $4,268 per ounce due to a stronger US dollar and elevated Treasury yields.

Market volatility intensified as investors anticipated the first Federal Reserve meeting under the leadership of Chair Kevin Warsh. Analysts from YCC Capital noted that surging global bond yields were outweighing gold's traditional role as an inflation hedge. While some analysts suggested gold could retest the $4,200 level, the market eventually rebounded. Along with gold, local silver prices rose by Rs140 per tola to reach Rs6,942.