The decline follows a drop in global gold prices, driven by heightened geopolitical uncertainty, crude oil prices nearing $100 per barrel, and growing expectations that the US Federal Reserve will maintain elevated interest rates at its upcoming policy meeting
KARACHI: (UrduPoint/Pakistan Point News-July 24th, 2026) The gold prices in Pakistan fell sharply on Friday, with the price of 24-karat gold per tola dropping by Rs4,600 to Rs427,436, as weakness in international bullion markets continued to weigh on local rates.
The decline followed a drop in global gold prices, driven by heightened geopolitical uncertainty, crude oil prices nearing $100 per barrel, and growing expectations that the US Federal Reserve will maintain elevated interest rates at its upcoming policy meeting.
In the international bullion market, gold prices fell by $46 per ounce to $4,050 per ounce, extending the recent downward trend.
Reflecting the global decline, the domestic bullion market also witnessed a significant reduction in prices. The rate for 10 grams of 24-karat gold decreased by Rs3,944, settling at Rs366,457.
Silver prices also continued their downward trajectory in both international and local markets. Globally, the price of silver declined by 61 cents per ounce to $58.30.
In Pakistan, the price of silver per tola dropped by Rs61 to Rs6,309, while 10 grams of silver fell by Rs53 to Rs5,408.
Bullion traders said precious metal prices remain under pressure due to shifting investor sentiment in international markets. While geopolitical tensions, including the continued conflict between the United States and Iran and concerns over the Strait of Hormuz, typically increase demand for safe-haven assets, expectations of prolonged high US interest rates have strengthened the Dollar and reduced the appeal of non-yielding assets such as gold.
The market analysts expect gold and silver prices to remain volatile in the coming days as investors closely monitor the outcome of the US Federal Reserve’s policy meeting, developments in the middle East, and movements in global oil prices, all of which are expected to influence the direction of international bullion markets.
