Gold and Silver Prices Drop Across Asia

Gold and silver prices fell across major Asian markets on October 14, 2026, driven by losses in international bullion markets and local currency fluctuations. In Pakistan, the All Pakistan Sarafa Gems and Jewellers Association reported that 24-karat gold per tola dropped by Rs3,000 to Rs437,836, following a $30 decline in international prices to $4,153 per ounce.

In India, prices declined for a third consecutive day. Gold fell by Rs1,800 to Rs1.5 lakh per 10 grams in the national capital, while silver dropped Rs5,000 to Rs2.21 lakh per 10 grams. This domestic decline was accelerated by a strengthening Indian rupee, which rose 19 paise to close at 95.17 against the US dollar. The Reserve Bank of India intervened to limit speculative foreign exchange exposure, making dollar-priced bullion cheaper to import.

Global spot gold fell to $4,140.69 per ounce, with investors awaiting U.S. inflation data to anticipate Federal Reserve monetary policy moves. While festive demand in India and buying in China may provide a cushion, analysts suggest further rupee appreciation remains a key factor. Separately, oil prices rose after two vessels were struck in the Strait of Hormuz, with Iranian officials stating they are using new tactics to target ships to maintain high oil prices and influence the upcoming U.S. midterm elections.