In the international bullion market, gold dropped by a notable $214 per ounce, settling at $4,850 per ounce. This sharp decline reflected a cooling trend in global demand and a shift in investor sentiment.
Following the global slide, the local gold market also felt the impact. The price of one tola of gold plunged by Rs21,400, bringing it down to Rs507,762. Market observers described the fall as one of the most significant single day drops in recent times.
#Gold & #Silver prices went from record highs to sharp sell-offs in days profit booking, a strong dollar & easing safe-haven demand triggered the drop.
— Our Make Web Media (@ourmakewebmedia) February 5, 2026
Decision tip: If you’re long, don’t panic-sell in volatility; if reallocating, watch key support levels before buying dips. pic.twitter.com/aFJ0qv2xTp
Similarly, the price of 10 grams of gold fell sharply by Rs18,347, closing at Rs435,324. Just two days earlier, on Wednesday, gold prices had surged, with per tola rates rising by Rs14,800 to reach Rs529,162, highlighting the high volatility in the market.
Silver prices also followed a downward path. The price of one tola of silver dropped by Rs1,430, settling at Rs7,825.
Analysts say the sudden decline shows how fragile and fast moving the precious metals market has become, urging investors to stay alert as prices continue to swing with global trends.
