Gold Prices See Major Swing, Per Tola Rate Shocks Buyers

The gold market has witnessed unusual volatility in recent days, with sharp declines followed by partial recovery, creating uncertainty among investors and buyers.

On January 29, 2026, the price of gold in Pakistan stood at around Rs. 572,000 per tola. However, on January 30, a major drop of Rs. 35,500 was recorded. Another decline of Rs. 10,000 followed on January 31, bringing the rate close to Rs. 490,000 per tola by February 2.

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Later, on February 3, gold prices rebounded by Rs. 13,700, pushing the rate back above Rs. 504,000 per tola.

What’s Behind the Volatility?

Economic analysts say global demand for gold remains strong as central banks diversify reserves away from the US dollar. However, short-term factors such as reduced buying during holidays in China and Europe contributed to temporary correction.

Experts also point to:

• Geopolitical tensions
• Global economic uncertainty
• Year-start portfolio adjustments by financial institutions

Market Outlook

Analysts suggest the recent fall appears to be a short-term correction rather than the start of a long-term downtrend. If global uncertainty persists, gold may regain upward momentum.

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Silver Market Also Affected

Silver prices also experienced heavy movement in the international market, causing caution among investors. A mix of a stronger dollar, demand shifts, and profit-taking contributed to the fluctuation.

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