Domestic bullion market declines despite continued safe-haven demand lifting international gold prices

KARACHI: Gold prices in Pakistan declined on Thursday, July 23, 2026, with the price of 24-karat gold falling by Rs1,800 per tola, according to the latest rates released by the All Pakistan Gems and Jewellers Association (APGJA).

The price of 24-karat gold settled at Rs432,036 per tola, down from Rs433,836 in the previous trading session.

The price of 24-karat gold per 10 grams also fell by Rs1,543 to Rs370,401, compared with Rs371,944 a day earlier.

International gold prices remain firm

In the international bullion market, spot gold was quoted at $4,096 per ounce, supported by continued safe-haven demand as investors remained concerned about global economic uncertainty and geopolitical tensions.

Analysts said expectations regarding interest rate policies in major economies, together with ongoing geopolitical risks, continued to underpin demand for the precious metal.

Domestic market records correction

Despite firm international bullion prices, gold prices in Pakistan moved lower, reflecting local market adjustments and domestic pricing dynamics.

Bullion dealers said local gold rates are influenced not only by international price movements but also by fluctuations in the rupee-dollar exchange rate and domestic market conditions.

Market outlook

Traders expect investors to remain focused on developments in global financial markets, central bank policy signals and geopolitical events, which are likely to continue shaping the direction of international bullion prices.

Market participants said any significant movement in global gold prices or exchange rates could quickly be reflected in Pakistan’s domestic bullion market in the coming sessions.