Gold price in Pakistan dropped sharply on Friday, July 24, 2026. The price of 24-karat gold fell by Rs4,600 per tola, bringing the new rate to Rs427,436. This is according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The price of 10-gram gold also fell. It dropped by Rs3,944 to close at Rs366,457. The rate for 22-karat gold now stands at Rs335,931 per 10 grams.
Silver prices fell too. The rate for 24-karat silver dropped by Rs61 per tola to Rs6,309. The price per 10 grams fell by Rs53 to Rs5,408.
This marks two days of losses in a row. On Thursday, gold price per tola fell by Rs1,800 to Rs432,036. Sarafa dealers said gold has now lost a total of Rs6,400 per tola over the past two trading days.
Why Did Gold Prices Fall?
The drop in Pakistan followed a decline in the international gold market. Gold in the global market fell by $46 per ounce to trade near $4,050, based on the rate used for local pricing.
Rising oil prices played a big part. Brent Crude crossed $100 per barrel this week, its first move above that mark since May. Higher oil prices raise inflation worries, and that pushes bond yields up. The 10-year US Treasury yield climbed to 4.70%.
Higher yields and inflation fears also raised the odds of a Federal Reserve rate hike. The chance of a hike in September rose from 68% to 80%, based on data from CME FedWatch. A rate hike makes the US dollar more attractive than gold, which pays no interest. This is a key reason gold has been under pressure.
Will Gold Prices Recover Over the Weekend?
Local gold and bullion markets in Pakistan stay shut on weekends, so no fresh rate change will show up until Monday. Any recovery will depend on what happens in the international market before trading resumes.
The next big event to watch is the Federal Reserve’s policy meeting on July 29. If the Fed signals a softer stance on rates, gold could regain some ground.
Traders are also watching the $4,000 per ounce level in the international market. This price point has acted as a support zone in recent weeks. Holding above it could set up a rebound. A break below it could mean more losses ahead.
