Gold prices rebound in Pakistan - July 2, 2026

KARACHI: Gold prices in Pakistan increased on Thursday, July 2, 2026, reversing a recent downward trend and mirroring gains in the international bullion market.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold rose by Rs9,100 per tola to Rs428,736.

Similarly, the price of 10 grams of 24-karat gold increased by Rs7,802 to Rs367,572, while 10 grams of 22-karat gold went up by Rs7,152 to Rs336,953.

In the international market, gold prices climbed by $91 to $4,063 per ounce.

Silver prices also recorded an increase, with the per tola rate rising by Rs203 to Rs6,445. In the global market, silver gained $2.03 to reach $59.66 per ounce, according to the association.

Market analysts said the volatility in precious metals was driven by shifting global risk sentiment and evolving geopolitical tensions, which have boosted demand for safe-haven assets.

They added that gold continues to serve as a key hedge against inflation, currency depreciation and broader economic uncertainty, with global economic conditions, central bank policies and geopolitical developments expected to shape prices in the coming weeks.

Investor sentiment was further supported by recent diplomatic developments in the Middle East, including a reported framework agreement between Israel and Lebanon in Washington aimed at reducing regional tensions involving Iran-backed Hezbollah.

Separately, US and Iranian negotiators made “positive progress” during indirect talks in Doha, with the next round expected after the funeral of Iran’s former supreme leader, according to Qatar’s foreign ministry spokesperson.

Foreign ministry spokesman Majed Al Ansari said on X that Qatar and Pakistan mediators held separate meetings with US and Iranian negotiators, noting progress on issues related to the Islamabad Memorandum of Understanding, building on the outcomes of the Lake Lucerne summit.

He added that the parties agreed to continue discussions in the coming period, with the next meeting to be scheduled as soon as possible after the funeral processions.

Sources said the two sides focused on maritime traffic in the Strait of Hormuz and financial incentives for Iran, rather than more contentious issues the framework was expected to address.