The local bullion market experienced a sharp correction as gold prices dropped for the second consecutive day on Wednesday, March 4, 2026. The price of 24-karat gold fell by Rs. 10,000 per tola, settling at Rs. 539,962.
This follows a massive decline on Tuesday, bringing the total two-day drop to nearly Rs. 24,000 per tola. For buyers tracking smaller weights, the price of 10 grams of 24-karat gold decreased by Rs. 8,573 to reach Rs. 462,930.
This domestic downturn aligns with a major retreat in the international market, where gold prices plunged by $100 per ounce to hit $5,172. According to analysts, the sell-off can be largely traced to the strengthening of the US dollar and a change in expectations with respect to global interest rates.
Market Summary and Comparison
While the yellow metal lost significant value, silver prices showed resilience by trending upward. The local rate for silver increased by Rs. 100, bringing the price to Rs. 9,004 per tola.
| Metal Type | Rate (Per Tola) | Change |
| Gold (24K) | Rs. 539,962 | (- Rs. 10,000) |
| Silver (24K) | Rs. 9,004 | (+ Rs. 100) |
Economic Outlook and Trends
These consecutive reverse price drops offer a surprising opportunity to retail customers following the historic high of gold this week. The silver boom amidst the gold crash is an indication that there is a shift in the demand of precious metals as investors shift their portfolios. Analysts take it slow, observing that the local rates will reflect the global bullion volatility and currency fluctuations in the near future.
