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November 8, 2026

Findivoza

Gold ingot and bar on display at the Banque de France
Business & Money

Gold falls Rs10,800 in a day in Pakistan as world gold hits a one-year low

Faizan Altaf

Gold has had a rough few months, and Saturday brought the sharpest jolt yet for buyers and sellers in Pakistan. The price of 24-karat gold fell by Rs10,800 per tola in a single day, taking it below Rs410,000. It was the second big fall in two days, and it came as gold around the world dropped to its lowest level in a year.

For many families in Pakistan, gold is not just an investment. It is wedding jewellery, a gift for a daughter, and a family saving kept in a drawer. So a fall of almost Rs16,000 per tola in two days matters: good news if you are about to buy, painful if you bought at the top, and confusing for everyone else, because gold is supposed to be the safe option.

This article explains, in plain language, what happened on 31 October 2026, why world gold fell, and what it could mean for people in Pakistan. It does not tell you whether to buy or sell — nobody can know for certain where the price will go next.

At a glance

What happened: On Saturday, 31 October 2026, the price of 24-karat gold in Pakistan fell by Rs10,800 per tola to Rs409,736, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association and reported by the Associated Press of Pakistan. The day before, it had already fallen by Rs5,100 per tola. That is a drop of Rs15,900 per tola in two days.

Why it matters: Gold is one of the most widely held savings in Pakistan, and it is also a major wedding expense. A fall this sharp changes the cost of a wedding set by tens of thousands of rupees overnight, and it changes the value of gold that families already own. Around the world, gold also fell to its lowest level in about a year, dropping below $4,000 an ounce.

What happens next: Pakistan’s bullion market will take its next cue from world prices when trading resumes on Monday. Traders will also be watching the US Federal Reserve and whether the sell-off in technology shares continues. Prices can move sharply in either direction, so the new lower level is not a promise that gold will stay cheap.

The fall in Pakistan: the numbers

The headline number is simple. On Friday, 30 October, 24-karat gold fell by Rs5,100 per tola to Rs420,536. On Saturday, 31 October, it fell by another Rs10,800 per tola to Rs409,736. Put together, that is Rs15,900 lost in two trading days.

The price of 10 grams of 24-karat gold fell by Rs9,259 on Saturday to Rs351,282, according to the same association rates. Silver fell too. It was reported at Rs5,388 per tola on Saturday, although different reports gave slightly different silver figures for the day.

A tola is the traditional unit used to weigh gold in Pakistan, India and Bangladesh. One tola is about 11.66 grams. Ten grams is a little less than one tola, which is why the 10-gram price is always lower than the per-tola price. When jewellers talk about 24-karat gold, they mean pure gold. Lower karats, such as 22-karat or 21-karat, contain less pure gold and cost less per tola.

Note: some online trackers put Saturday’s rate at around Rs409,500 or Rs409,000 per tola instead. The Rs409,736 figure used here is the one reported from the All Pakistan Sarafa Gems and Jewellers Association through the Associated Press of Pakistan and Business Recorder, the standard source most Pakistani newspapers use. Small differences come from the time of day, the city, and making charges, which jewellers add on top and which vary from shop to shop.

The two-day fall is also striking because of where gold had been only a few days earlier. On Wednesday, 28 October, the per-tola rate had climbed to Rs425,636. From that point to Saturday’s close, gold lost Rs15,900 per tola. A family that bought one tola on Wednesday would have seen its market value fall by almost Rs16,000 by Saturday, before making charges are even counted.

World gold: below $4,000 and at a one-year low

Pakistan does not set the gold price on its own. The local rate is worked out from the international price, in US dollars per ounce, and the rupee-dollar exchange rate. When the world price falls sharply, the Pakistani price usually follows within the same day. That is what happened on Friday and Saturday.

In the international market, the association reported that gold fell by $108 an ounce to $3,872. Other market reports captured slightly different moments in a fast-moving day: Reuters reported spot gold down about 3.5 percent to around $3,881 an ounce, while Investing.com reported spot gold down 3.6 percent to $3,875.55 an ounce. Those are not contradictions so much as snapshots taken at different times. Gold was falling through the day, and the exact figure depended on when you looked.

What the reports agree on is the bigger picture. Gold fell below $4,000 an ounce, and it reached its lowest level since October 2025 — about a year ago. It was also gold’s second monthly fall in a row. Spot gold fell about 6.8 percent in October, according to Investing.com, and gold futures fell about 7.3 percent over the same month.

Silver fell even harder. It dropped about 6 percent on Friday to below $50 an ounce for the first time in about 11 months, according to Reuters. Platinum and palladium fell as well. When traders sell in a hurry, they often sell several metals at once.

Why did gold fall?

There is no single reason. Several pressures came together on the same day, and together they were enough to push gold down sharply.

Interest rates in the United States

The biggest factor, according to market reports, was expectations about US interest rates. The US Federal Reserve, America’s central bank, held its main interest rate unchanged this week, at 3.75 to 4.00 percent. But traders took the message from the Fed, and from new US economic data, as a sign that the next move could be up rather than down.

That matters for gold because gold pays no interest. If you hold gold, you earn nothing from it while you wait. If you hold a bond or keep money in a bank, you earn interest. When interest rates are expected to stay high or rise further, holding gold becomes less attractive by comparison, and some investors sell gold and move their money elsewhere. When rates are expected to fall, the opposite happens, and gold often rises.

US economic data released around the same time added to that feeling. Third-quarter growth came in stronger than expected, and the Fed’s preferred measure of inflation, known as PCE, rose 3.6 percent from a year earlier in September, according to reports on the data. Strong growth and firm inflation make it harder for the Fed to cut rates, and they raise the chance of a rate rise. Market reports said traders were pricing in a roughly 70 to 75 percent chance of a rate rise in December, although that figure moved around during the day and different measures gave different numbers.

Higher oil prices added to the same worry. Oil has been pushed up by supply concerns linked to the Middle East, and higher oil prices can push inflation up. That, in turn, can keep interest rates higher for longer.

A sharp fall in technology shares

The second factor was a sell-off in shares, especially technology shares. On Friday, technology stocks fell sharply as investors questioned whether the huge amounts of money big technology companies are spending on artificial intelligence will pay off quickly enough. Intel fell by about 28 percent in a day after its results, its worst day since 1974, according to reports, and the Philadelphia semiconductor index fell 7.2 percent.

When shares fall sharply, investors sometimes have to sell other things they own, including gold, to raise cash. That is why gold can fall on the same day as shares, even though it is often described as a safe haven.

How far has gold fallen since January?

To understand Saturday’s fall, it helps to look back to the start of the year. Gold began 2026 on a high. On 29 January, it reached a record of about $5,595 an ounce. That was the highest price gold had ever reached.

From that peak to Friday’s close of about $3,876 an ounce, gold has fallen by roughly 30 percent — about $1,720 an ounce. That is a very large fall for gold, which usually moves more slowly than shares.

The fall did not happen in one day. Gold gave back part of its very fast rise in early 2026, then fell further in September as US bond yields rose and the dollar strengthened. October was the second month in a row in which it fell. But Friday’s drop was one of the sharpest single days in that slide, at about 3.5 percent.

Even after this fall, gold is still far above where it was a few years ago. Market data showed a 52-week low of about $3,870 an ounce and a 52-week high of about $5,602, matching the January record. That does not tell us what happens next. Gold has recovered from sharp falls before, and it has also kept falling after sharp falls before. The honest answer is that no one knows, and the price on Monday will depend on new data, new statements from the Fed, and how markets around the world react over the weekend.

What does this mean for people in Pakistan?

If you are planning to buy gold

For buyers, the fall is straightforward good news in the short term: the same amount of gold costs less than it did a few days ago. A one-tola purchase that would have cost Rs425,636 on Wednesday would have cost Rs409,736 on Saturday — a difference of Rs15,900, before making charges.

That matters most for weddings. In Pakistan, gold jewellery is a major wedding expense, and families often buy it months in advance. A set that uses several tolas can now cost tens of thousands of rupees less than it would have a week ago. For a family that was waiting for a better price, this may be the moment they were waiting for. But there is no guarantee the price will not fall further, just as there is no guarantee it will not rise again next week.

If you already own gold

For people who already own gold, the fall means the market value of what they hold is lower than it was. That only becomes a real loss if they sell now. If they bought gold years ago at a much lower price, they may still be well ahead even after this fall. If they bought near the January peak, or in the past few weeks, they may now be sitting on a paper loss.

Gold is often bought as a long-term saving, to be kept for years rather than traded week to week. For those buyers, a fall of a few days matters less than the price over years. But for someone who needs to sell now — to pay for a wedding, a medical bill, or a business need — the timing is unlucky, and the lower price is a real cost.

What to watch next

The next test comes on Monday, when international markets reopen and Pakistan’s bullion market takes its next cue. If world gold steadies or recovers, the Pakistani rate may steady too. If world gold falls further, the Pakistani rate is likely to follow.

Three things will matter most in the coming days and weeks. First, the US Federal Reserve. The Fed’s next meeting is in December, and traders will be watching every speech and every new piece of US economic data for clues about whether rates will rise. If the Fed signals that a rise is likely, gold may stay under pressure. If it signals that rates will stay where they are, gold may find support.

Second, the technology share sell-off and the rupee. If shares keep falling, gold could fall further as investors sell to raise cash. If the rupee weakens against the dollar, gold in Pakistan could become more expensive even if the world price does not rise.

Frequently asked questions

How much did gold fall in Pakistan on 31 October 2026?

By Rs10,800 per tola for 24-karat gold, to Rs409,736 per tola, according to rates from the All Pakistan Sarafa Gems and Jewellers Association reported by the Associated Press of Pakistan. The price of 10 grams fell by Rs9,259 to Rs351,282.

What is the world gold price now?

About $3,872 to $3,876 an ounce, depending on which market report and which moment of the day you use. That is below $4,000 an ounce and the lowest level in about a year. The association reported $3,872, down $108 on the day. Reuters reported spot gold at about $3,881, down 3.5 percent, and Investing.com reported a close of $3,875.55, down 3.6 percent.

How far is gold below its record high?

Gold reached a record of about $5,595 an ounce on 29 January 2026. At about $3,876 an ounce, it is roughly 30 percent below that record.

Why did gold fall if there is a war and high inflation?

Because gold also responds to interest rates and the dollar. When US interest rates are expected to stay high or rise, gold becomes less attractive because it pays no interest. Strong US growth and firm inflation data made a December rate rise look more likely. A sharp fall in technology shares also led some investors to sell gold to raise cash. War and inflation can support gold, but they do not guarantee it will rise.

Conclusion

Saturday’s fall was sharp, fast, and easy to understand in one sentence: world gold dropped to a one-year low, and Pakistan’s gold price followed it down. The per-tola rate fell by Rs10,800 in a day and by Rs15,900 in two days, to Rs409,736. Silver fell too. The reasons were a mix of higher US interest rate expectations, strong US economic data, higher oil prices, and a sudden sell-off in technology shares.

For buyers, especially families planning weddings, the lower price is welcome. For people who bought near the top, it is a reminder that gold can fall sharply as well as rise sharply.

What is clear is that the price on Monday will matter more than any forecast. Check the fresh rate before you buy or sell, ask for the weight and karat in writing, and do not make a hurried decision based on a single day’s move. Gold has moved by thousands of rupees per tola in a week before, and it can do so again.

Sources

This article is for general information and education only. It is not legal or financial advice.

Faizan Altaf

Faizan Altaf is the founder and author of findivoza.com, a news blog covering world, Pakistan, business, technology, health and sport in plain English. He writes for general readers who want clear, trustworthy news without jargon. His work focuses on explaining what happened, why it matters, and what to watch next.

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