Gold Market Correction: Gold Plummets by Rs 35,500 per Tola in Historic Single-Day Crash.
Bullion market correction: Gold prices plunge by Rs 35,500 per tola in a single day.
After a period of record-breaking highs, the Pakistani bullion market witnessed a sharp correction on Friday, January 30, 2026. Following a steep decline in international markets, the local price of 24-karat gold plunged by Rs 35,500, bringing the rate down to Rs 537,362 per tola.
Key Market Highlights:
- Major Price Drop: The 10-gram price of 24-karat gold also fell by Rs 30,435, closing at Rs 460,701. For 22-karat gold, the 10-gram rate decreased by Rs 27,900 to settle at Rs 422,324.
- Silver Follows Suit: Silver prices were not immune to the sell-off, dropping by Rs 1,106 per tola to settle at Rs 11,069.
- Global Retreat: International spot gold prices dropped nearly 4% to 5% to around $5,150–$5,183 per ounce. This was triggered by a roughly $355 drop per ounce globally amid rumors that President Trump might nominate a more hawkish chair (Kevin Warsh) for the US Federal Reserve.
- Extreme Volatility: This massive drop comes just a day after gold had increased by Rs 21,200 to reach a near-record of Rs 572,862, highlighting the intense volatility currently facing investors.
- Historical Month: Despite this crash, January 2026 remains a historic month for gold, with overall gains exceeding 20% to 24%, marking its best monthly performance since 1980.
Analysts suggest that while the immediate fall was driven by profit-taking and a rebounding US dollar, the long-term structural demand for gold remains intact.
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