Karachi, Pakistan – Web Desk (May 16, 2026): Gold and silver prices recorded a second consecutive day of decline in both international and local markets on Saturday, offering some relief to buyers amid broader economic uncertainty.
According to the All-Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola dropped by Rs600 to settle at Rs476,262, while per 10 grams fell by Rs515 to Rs408,317.
In the international bullion market, gold prices fell by another 6perounceto6perounceto4,539 per ounce.
Silver Also Extends Losses
Silver prices also declined sharply. Internationally, per ounce silver fell by 1.59to1.59to75.89. Domestically, per tola silver dropped by Rs159 to Rs8,073, while per 10 grams declined by Rs136 to Rs6,921.
Why Are Prices Falling?
Market analysts attribute the downward trend to persistent US-Iran conflict tensions, which have raised concerns over crude oil price hikes and accelerating inflation. Fears that interest rates may remain at elevated levels have also pressured safe-haven assets like gold.
Notably, a significant decline in gold and silver prices was also recorded the previous day in both global and local markets.
