KARACHI: In a dramatic reversal, domestic gold prices plunged on Saturday, with 10 grams (24kt) gold dropping by Rs9,088 to Rs382,630, and one-tola falling Rs10,600 to Rs446,300.

This comes just a day after a record single-day surge of Rs12,089 and Rs14,100, respectively. Globally, gold fell by $106 per ounce to $4,252, following a $141 rise on Friday. Analysts attribute the sharp decline to a strengthening US dollar and remarks by President Donald Trump, who said a full-scale tariff on China would be unsustainable, dampening investor sentiment in bullion markets.

Published in Dawn, October 19th, 2025