Domestic bullion market rebounds as international gold prices recover by $30 per ounce
KARACHI: Gold prices in Pakistan rebounded sharply on Friday, July 31, 2026, with the price of 24-karat gold increasing by Rs3,000 per tola, supported by a recovery in international bullion markets.
According to the All Pakistan Gems and Jewellers Association (APGJA), the price of 24-karat gold climbed to Rs430,436 per tola, compared with Rs427,436 recorded in the previous trading session.
The price of 24-karat gold per 10 grams also registered a significant increase, rising by Rs2,572 to Rs369,029, up from Rs366,457 a day earlier.
The latest increase comes after a period of volatility in the domestic bullion market, with gold prices fluctuating in line with movements in international markets and changing investor sentiment.
In the global bullion market, spot gold advanced by $30 per ounce to $4,080, compared with $4,050 in the previous session. The recovery in international prices provided strong support to domestic gold rates, which generally move in line with global trends after accounting for the rupee-dollar exchange rate and local market factors.
Gold prices in Pakistan have witnessed sharp swings in recent weeks as investors reacted to geopolitical developments, fluctuations in the US dollar, and changing expectations regarding global interest rates. Rising demand for safe-haven assets has continued to influence international bullion prices, with precious metals attracting investor interest during periods of economic and political uncertainty.
Market analysts said that any further movement in international gold prices, along with changes in the exchange rate, could continue to affect local bullion prices in the coming days. They noted that gold remains a preferred investment during uncertain times, making domestic prices highly sensitive to developments in global financial markets.
Jewellers expect trading activity to remain steady, although higher prices may limit retail demand for jewellery. However, investment demand is likely to remain firm as many buyers continue to view gold as a hedge against inflation and market volatility.
Bullion dealers said local gold prices will continue to track international market trends, while currency fluctuations and domestic demand will remain key factors influencing daily price movements. Investors are also expected to closely monitor upcoming economic data and central bank policy signals, which could affect the outlook for global bullion markets.
The APGJA updates gold prices daily based on international bullion rates and domestic market conditions, making its rates the benchmark for Pakistan’s gold market.
Analysts expect gold prices to remain volatile as investors closely monitor global inflation, central bank interest rate decisions, geopolitical developments and currency movements. They said stronger safe-haven demand could support bullion prices, while easing global tensions and a firmer US dollar may limit gains in both international and Pakistan’s domestic gold markets.