Gold Prices in Pakistan and India Fall Amid Global Volatility

Gold and silver prices in Pakistan and India experienced significant volatility between July 7 and July 10, 2026, largely mirroring a downward trend in global bullion markets. The All Pakistan Sarafa Gems and Jewellers Association reported that Pakistani gold prices fell for four consecutive sessions starting July 7, with 24-karat gold dropping from approximately Rs434,936 to Rs430,236 per tola by July 8. Silver followed a similar trajectory, decreasing from Rs6,559 to Rs6,421 per tola during that period.

In India, prices also fell on July 7, with gold dropping by Rs1,400 per 10 grams to Rs1.49 lakh. This decline was driven by a stronger rupee, aided by the Government of Saudi Arabia reducing crude oil prices for Asian buyers. Globally, spot gold fluctuated between $4,078 and $4,140 per ounce, pressured by rising US Treasury yields and shipping attacks near the Strait of Hormuz.

Following a brief rebound on July 9, where Pakistani gold rose by Rs3,600 per tola to Rs433,836, prices declined again on July 10. The 24-karat rate fell by Rs1,400 to Rs432,436, tracking a $14 drop in international gold prices. While gold retreated, silver prices showed a slight recovery on July 10, rising to Rs6,432 per tola.