KARACHI: A notable decline in gold prices has been recorded in both Pakistan and the international market.
According to the Sarafa Association, the price of 24-karat gold per tola has decreased by 3,600 rupees, bringing the new rate to 421,836 rupees.
Similarly, the price for 10 grams of gold has fallen by 3,086 rupees, settling at 361,656 rupees. Internationally, gold prices dropped by 36 dollars, reaching 3,994 dollars per ounce.
Additionally, the price of silver per tola saw a reduction of 126 rupees, now standing at 6,029 rupees.
Gold Price Trends in 2026
Throughout 2026, the gold market in Pakistan has exhibited significant volatility, largely influenced by a blend of international economic shifts and domestic financial pressures.
As of mid-July 2026, prices have been trading at historically elevated levels, despite intermittent market corrections.
The price of gold is primarily determined by international market benchmarks like the London Bullion Market and COMEX. Because gold is denominated in U.S.
Dollars, the strength of the dollar against the Pakistani Rupee (PKR) plays a critical role; a weaker rupee often forces local gold prices upward, even if international rates remain stable.
Investor behavior in 2026 has been marked by a search for stability amidst global uncertainty.
Gold remains a “safe-haven” asset, with demand surging during periods of geopolitical tension, economic instability, or fears of inflation.
However, the year has also seen fluctuating demand due to changes in central bank buying intensity and shifting U.S. Federal Reserve policies, which impact the opportunity cost of holding non-yielding assets like gold.
Domestically, while global factors are dominant, local demand—driven by wedding seasons and cultural buying patterns—continues to exert temporary pressure on prices in the Sarafa market.
With analysts offering mixed forecasts for the remainder of the year, the market is expected to remain sensitive to both global geopolitical resolutions and internal economic policy adjustments.
