Pakistan’s bullion market recorded a sharp and significant decline on Wednesday, as gold prices fell steeply across all categories following a heavy pullback in international rates, marking one of the steepest single-session drops recorded in recent weeks.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola plunged by Rs. 8,600, settling at Rs. 467,762.
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Similarly, the rate of 24-karat gold per 10 grams fell sharply by Rs. 7,373, closing at Rs. 401,030, while 22-karat gold per 10 grams also tumbled by Rs. 6,759 to settle at Rs. 367,624.
Gold rates in Pakistan on Wednesday, June 3, 2026:
- Gold, 24K per tola: Rs. 467,762 (-8,600)
- Gold, 24K per 10 grams: Rs. 401,030 (-7,373)
- Gold, 22K per 10 grams: Rs. 367,624 (-6,759)
Meanwhile, international gold prices also witnessed a sharp decline, falling by $86 to settle at $4,454 per ounce as global markets came under heavy selling pressure.
The steep drop in global bullion markets was swiftly reflected in domestic prices, as traders and investors moved to offload positions amid the broad market sell-off.
READ: Gold surges by Rs. 4,600 per tola in Pakistan as international prices stage strong recovery
With selling activity dominating the session and fresh buying interest largely absent, gold prices fell sharply across all categories throughout the day.
A Rollercoaster Week for Gold
Wednesday’s sharp decline comes after a strong recovery on Tuesday, June 2, when gold prices had surged by Rs. 4,600 per tola to settle at Rs. 476,362, as international markets rebounded powerfully following the previous session’s losses. International gold had also gained $46 to settle at $4,540 per ounce on that day.
Prior to Tuesday’s recovery, gold had fallen sharply on Monday, June 1, declining by Rs. 4,400 per tola to settle at Rs. 471,762 as international markets came under pressure. Before that, gold had recorded a modest gain of Rs. 1,300 per tola on Saturday, May 30, as markets moved cautiously higher in the post-Eid trading sessions.
Wednesday’s steep decline of Rs. 8,600 per tola has now pushed domestic gold prices below the Rs. 470,000 mark, erasing all of Tuesday’s gains and then some, marking a significant setback for the bullion market.
Still Within Range of Elevated Levels
Despite Wednesday’s heavy decline, gold prices in Pakistan continue to trade at broadly elevated levels compared to historical averages. The metal has been on a significant upward trajectory over the past year, with domestic prices repeatedly reaching record highs in line with surging international rates.
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However, the sharp single-session drop of Rs. 8,600 per tola is a reminder of the volatility that continues to characterise gold markets both domestically and globally. Market watchers will be closely monitoring international developments in the coming sessions to assess whether this decline represents a temporary correction or the beginning of a more sustained pullback.
With global economic uncertainty continuing to shape investor sentiment, gold remains a closely watched asset in both domestic and international markets.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association, based on interbank exchange rates for 999 purity (24K).
For daily updates visit our detailed Gold Price in Karachi page
