The Karachi bullion market remained in freefall on Monday, with gold prices collapsing further to fall decisively below the Rs 500,000 per tola mark.
The today gold rate in Karachi for 24-karat gold plummeted by another Rs. 21,500, closing at Rs. 490,362.
This sharp decline extends the historic correction that began on Friday, bringing the total loss over just three trading sessions to a staggering Rs. 82,500 per tola.
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The break below the Rs. 500,000 psychological support level signals a potential market capitulation, erasing the record-breaking gains of late January.
Gold Rate in Karachi for Monday, February 2, 2026:
- Gold, 24K per tola: Rs. 490,362 down by Rs. 21,500
- Gold, 24K per 10 grams: Rs. 420,406 down by Rs. 18,433
- Gold, 22K per 10 grams: Rs. 385,386 down by Rs. 16,897
- Silver, 24K per tola: Rs. 8,405 down by Rs. 601
- Silver, 24K per 10 grams: Rs. 7,205 down by Rs. 516
Silver Prices in Pakistan – February 2, 2026:
Silver prices also suffered a severe drop, falling by Rs. 601 per tola to Rs. 8,405, and have now lost over Rs. 2,600 from their peak last week, highlighting the brutal nature of the sector-wide liquidation.
The international gold price per ounce crashed by another $219 to $4,676, marking a two-day collapse of $570. This global precious metals crash suggests the recent parabolic rally was a speculative bubble that has now violently burst.
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All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for purity 999 (24K).
On Saturday, Jan 31, 2026, Gold prices in Pakistan fell significantly on Saturday, as both local and international markets saw a sharp correction.
The move comes after weeks of high volatility in the bullion market, prompting traders and investors to stay cautious.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola dropped by Rs 25,500, closing at Rs 511,862.
