KARACHI: Gold prices in Pakistan declined on Wednesday, July 8, 2026, following a drop in international bullion markets.
According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs4,700 to Rs430,236.
The price of 10 grams of 24-karat gold also fell by Rs4,029 to Rs368,858. In the international market, gold prices dropped by $47 to settle at $4,078 per ounce.
Meanwhile, silver prices also witnessed a decline, falling by Rs138 per tola to Rs6,421.
Market analysts attributed the decline in precious metal prices to changing global risk sentiment, movements in currency markets and ongoing geopolitical developments, which continue to influence demand for safe-haven assets.
Analysts said gold remains a key hedge against inflation, currency depreciation and economic uncertainty, while future price movements are expected to depend on global economic data, central bank policies and geopolitical developments.
According to Matt Simpson, senior analyst at StoneX, gold prices were retreating after recent gains amid a lack of clear market drivers and thin liquidity. He said the decline was not unusual after the metal recorded a strong recovery in the previous week.
The US dollar strengthened during trading, making dollar-priced gold more expensive for investors holding other currencies. Meanwhile, yields on the benchmark 10-year US Treasury note rose to a two-week high, putting additional pressure on bullion prices.
Nicholas Frappell, global head of institutional markets at ABC Refinery, said markets were awaiting further guidance from the Federal Reserve’s meeting minutes for clues about the central bank’s outlook on short-term interest rate policy.
Gold prices have fallen more than 25% from their record highs earlier this year, after geopolitical tensions, including the US-Israel conflict with Iran, fueled inflation concerns, supported the dollar and increased expectations of higher interest rates.