International bullion prices slide below $4,000 an ounce, weighing on Pakistan’s gold market

KARACHI: Gold prices in Pakistan fell sharply on Friday, July 17, 2026, with the price of 24-karat gold declining by Rs3,600 per tola, tracking a steep drop in international bullion markets.

According to the All Pakistan Gems and Jewellers Association (APGJA), the price of 24-karat gold settled at Rs421,836 per tola, down from Rs425,436 in the previous trading session.

The price of 24-karat gold per 10 grams also declined by Rs3,086 to Rs361,656, compared with Rs364,742 a day earlier.

International gold prices weaken

The decline in Pakistan’s bullion market mirrored losses in global gold prices as investors reduced exposure to the precious metal.

In the international bullion market, spot gold fell by $36 per ounce to $3,994, slipping below the $4,000 mark from $4,026 in the previous session.

Analysts attributed the decline to weaker demand for safe-haven assets as investors reassessed market conditions and broader economic expectations.

Domestic market follows global trend

Gold prices in Pakistan generally move in line with international bullion markets, with local rates also influenced by fluctuations in the Pakistani rupee against the US dollar and domestic demand.

Jewellers revise local prices daily based on changes in global gold prices and exchange rate movements.

The latest decline reflects the close relationship between Pakistan’s bullion market and international price trends.

Outlook

Market analysts expect gold prices in Pakistan to remain volatile in the coming weeks as investors closely monitor global economic data, central bank interest rate decisions and geopolitical developments.

Uncertainty surrounding inflation, monetary policy and international conflicts will continue to influence investor demand for gold, making global bullion prices the primary driver of domestic gold rates.