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As of Friday evening, March 6, 2026, gold prices have experienced a notable pullback both in Pakistan and globally. Despite the ongoing Operation Epic Fury, a stronger U.S. dollar and shifting expectations for Federal Reserve interest rate cuts have exerted downward pressure on the precious metal. [1, 2, 3]
1. Gold Rates in Pakistan (March 6, 2026)
The local market saw a significant decline today, mirroring the international trend. [2, 4]
- 24K Gold (per tola): Decreased by Rs. 3,400, settling at Rs. 533,762.
- 24K Gold (10 grams): Dropped by Rs. 2,915 to reach Rs. 457,614.
- 22K Gold (per tola): Currently trading at approximately Rs. 489,282 (estimated based on standard market spreads).
- Silver (per tola): In a divergent trend, silver rose by Rs. 104 to reach Rs. 8,914. [2, 5, 6]
2. International Market Status
Global bullion prices have retreated from the historic highs seen earlier this year. [1, 7]
- Spot Gold: Fell by $34 to trade around $5,110 per ounce.
- Market Drivers: A surge in the U.S. Dollar Index has made gold more expensive for holders of other currencies, while high Treasury yields have reduced the appeal of non-yielding assets.
- Historical Context: Gold reached an all-time peak of $5,608.35 in January 2026 before entering its current volatile phase. [1, 2, 6, 7]
3. 2026 Price Forecasts
Despite the short-term dip, major financial institutions remain bullish due to long-term geopolitical and economic factors. [8, 9]
- J.P. Morgan: Forecasts gold to average $5,055 per ounce in Q4 2026, with potential to reach $5,400 by late 2027.
- Goldman Sachs: Maintains a target of $4,900 by year-end, noting that a prolonged blockade of the Strait of Hormuz could trigger a 15–25% upside.
- Central Bank Demand: Global central banks are expected to purchase roughly 755 tonnes of gold this year to diversify away from the dollar. [8, 9, 10, 11]
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