Gold prices in Pakistan experienced a sharp single-day decline on January 30, 2026, with the price per tola dropping by Rs35,500 to settle at Rs537,362 in the local market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This marks one of the largest single-day falls recorded, following a recent upward trend.
Local Market Adjustments
The price for 10 grams of 24-karat gold fell by Rs30,435 to Rs460,701. Silver prices also declined, with per tola silver dropping Rs1,106 to Rs11,069. On the previous day (January 29, 2026), gold per tola had risen to Rs572,862 after a gain of Rs21,200, highlighting the market’s volatility.
International Gold Price Influence
The local drop mirrored a significant retreat in global gold prices. Spot gold lost around 3.9% to $5,183.21 per ounce (as of early GMT trading), while US gold futures for February delivery fell 2.7% to $5,176.40 per ounce.
International gold declined by approximately $355 to around $5,150 per ounce (with a $20 premium noted in some quotes). This was described as one of the biggest single-day global declines in recent history.
Factors Driving the Decline
The plunge was linked to market speculation about a more hawkish Federal Reserve chair appointment under the Trump administration, which could signal tighter monetary policy. Despite the drop, gold remained on track for its strongest monthly performance since 1980, with prices up over 20% in January and heading for a sixth consecutive monthly gain.
This correction comes amid ongoing geopolitical and economic pressures but reflects profit-taking and sentiment shifts in precious metals markets. Local jewelers and investors are monitoring for stabilization, as such swings can impact buying patterns in Pakistan’s bullion sector.