KARACHI: Gold prices witnessed a significant decline in Pakistan on Saturday, June 6, 2026, in line with a downward trend in the international bullion market. According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped by Rs12,489 to Rs455,327, compared to Rs467,816 in the previous trading session.
Similarly, the price of 10 grams of 24-karat gold decreased by Rs11,240, settling at Rs389,772 against Rs401,012 a day earlier. In the international market, gold prices fell by $124.89 per ounce to $4,328.92, down from $4,453.81 in the previous session, according to Reuters. Silver prices also recorded a notable decline in the local market. The price of silver per tola dropped by Rs463 to Rs7,267 from Rs7,730 on the previous trading day.
Market analysts attributed the decline in precious metal prices to changing investor sentiment and fluctuations in demand for safe-haven assets amid ongoing economic and geopolitical uncertainties. Investors are closely monitoring developments in the Middle East, including the fragile ceasefire between Israel and Hezbollah, as well as diplomatic efforts involving the United States and Iran, as reported by Al Jazeera. These factors have contributed to shifts in global risk appetite.
Despite short-term volatility, analysts remain optimistic about gold’s long-term prospects, citing its traditional role as a hedge against inflation, currency depreciation, and geopolitical risks. The precious metal has historically performed well during periods of economic uncertainty, and current conditions may support a recovery in the coming weeks. For context, Wikipedia notes that gold has been a store of value for centuries.
Local jewellers reported subdued buying activity as consumers adopted a wait-and-see approach amid the sharp price correction. The APSGJA continues to update rates daily based on international trends and domestic demand. Market participants will watch upcoming economic data and central bank policies for further cues on bullion prices.
Source: ARY News