Gold prices in Pakistan rebounded on July 30 after gains in the international bullion market pushed domestic rates higher. The latest increase reversed the previous day’s decline and continued a month of sharp price fluctuations.
According to the Saraffa Association, the price of 24-karat gold increased by Rs1,000 per tola, taking the new rate to Rs427,436. Meanwhile, the price of 10 grams of gold rose by Rs857 to Rs366,457.
The recovery came just one day after the local bullion market recorded a Rs1,000 per tola decline, highlighting the continued volatility in gold prices throughout July. Investors and buyers have closely monitored the market as prices continue to fluctuate.
In the international market, gold prices climbed by $10 per ounce to $4,050, including a premium of $20. The improvement in global bullion prices provided fresh support to Pakistan’s domestic gold market.
Unlike gold, silver prices moved lower. The price of silver in the local market declined by Rs76 per tola, bringing the new rate to Rs6,215.
Gold prices also varied across major cities. In Lahore, 24-karat gold was selling at Rs430,000 per piece, while Karachi reported a selling price of Rs429,500. In Peshawar, the selling price reached Rs444,500, making it the highest among the major cities.
July has been a highly volatile month for the bullion market. Gold prices surged during the first week to an intra-month high of nearly Rs442,900 per tola before falling to around Rs424,200 by July 20. Prices later recovered during the final days of the month, stabilising within the Rs430,000 to Rs433,000 range.
Overall, gold traded within a range of more than Rs18,700 per tola during July, reflecting price fluctuations of approximately 4.4 percent. Despite the volatility, the average monthly price remained close to Rs432,000 per tola, indicating continued investor interest in gold amid changing global market conditions.
