Gold prices record biggest single-day drop of Rs43,600 in Pakistan

2026-03-23 - 09:40

KARACHI – Gold prices in Pakistan witnessed the highest single-day drop on Monday (March 23, 2026) in history of the country amid bearish trend in international market. According to Sarafa Association, the price of per tola gold crashed by Rs43,600 to drop to Rs474,762 in Pakistan. The precious commodity recorded a decline of $436 as per ounce rate fell to $4,250 in international bullion market. Silver Prices in Pakistan Today The silver prices also saw a significant decline in local market as per tola rate plunged by Rs800 to settle at Rs6,884 in Pakistan. Global Oil Prices Spike Oil prices climbed on Monday following threats from Iran’s Revolutionary Guards to strike Israel’s power infrastructure and facilities supporting US bases in the region if its electricity sector is attacked. Brent crude futures increased $1.57, reaching $113.76 per barrel, while U.S. West Texas Intermediate rose $3.09, or 3.15%, to $101.32 per barrel, according to Reuters. Both benchmarks experienced volatility, dipping about $1 after early gains in Asian trading. WTI’s rise narrowed its discount to Brent, which had recently widened to its largest gap in 13 years. High-Octane Prices in Pakistan A day earlier, Prime Minister Shehbaz Sharif approved a Rs200-per-litre hike in the levy on high-octane fuel for luxury vehicles, aiming to boost government revenue by Rs9 billion monthly. The Prime Minister’s Office stated that the high-octane blending component (HOBC) levy has risen from Rs105.37 to Rs305.37 per litre. The decision followed a virtual meeting chaired by PM Shehbaz, who highlighted the need to increase the levy. With the revision, the HOBC price now stands at Rs535 per litre, effective immediately.