Gold Prices Drop in Pakistan Today

ISLAMABAD: Following a decline in international market rates, gold prices in Pakistan have seen a noticeable decrease.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola fell by PKR 1,800, bringing the new rate down to PKR 435,636.

Similarly, the price of 10-gram gold decreased by PKR 1,543 to reach PKR 373,487. This domestic price drop mirrors global trends, where international gold prices slipped by $18 to settle at $4,096 per ounce.

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Gold Prices in Pakistan in Past Three Months

Over the past three months—May through July 2026—gold prices in Pakistan have experienced notable volatility, navigating a mix of global economic signals, geopolitical tensions in the Middle East, and domestic market shifts.

Overview of the Three-Month Trend

• May 2026: Gold prices opened relatively strong in May, with international spot prices hovering near multi-month highs. In the domestic market, 24-karat gold maintained elevated levels, frequently trading above PKR 450,000 to PKR 460,000 per tola due to strong safe-haven demand globally.

• June 2026: Mid-year brought a corrective phase. As international bullion prices retreated from early-summer peaks, local rates adjusted downward. By mid-to-late June, 24K gold saw sustained pullbacks, trading closer to the PKR 420,000–430,000 range per tola as investors evaluated global monetary policy outlooks.

• July 2026: The market displayed heightened day-to-day fluctuations. Tensions in the Middle East periodically boosted international spot gold above $4,100–$4,150 per ounce, driving brief local surges (such as a single-day gain of PKR 4,600 on July 22). However, lingering inflation concerns and expectations of tighter global monetary policy capped gains, leading to rapid pullbacks. As of late July, 24K gold settled around PKR 432,000 to PKR 435,000 per tola.

Key Market Drivers

1. 1. Global Bullion & Geopolitics: Fluctuations in international spot gold ($4,000–$4,150/oz) remained the primary driver of Pakistani bullion rates.

   2. Rupee Stability: Relative stability in the PKR/USD exchange rate helped insulate domestic gold from runaway inflation during this period.

   3. Interest Rate Outlooks: High crude oil prices and global inflation expectations kept interest rate expectations firm, keeping non-yielding gold under periodic selling pressure.