Gold prices in Pakistan retreated on Friday, July 10, 2026, tracking a dip in international bullion rates as investors recalibrated their portfolios following a week of volatility.
In the local market, the price of 24-karat gold dropped by Rs1,800 per tola, settling at Rs262,400. The 10-gram rate also saw a downward adjustment, falling to Rs224,965. This cooling off comes after a sharp rally earlier in the week that had pushed domestic prices toward record highs.
The shift isn’t just about local sentiment. Global gold prices eased to $2,375 per ounce as the U.S. dollar regained some footing against a basket of currencies. When the dollar strengthens, gold becomes more expensive for holders of other currencies, typically cooling demand.
Local jewelers in Karachi and Lahore reported a quiet morning session. Buyers, who had been cautious during the recent price surge, are now watching the charts to see if the downward trend holds.
“The market is reacting to the global cooling,” said a bullion broker in Karachi. “People were waiting for a dip to enter, but there’s still enough uncertainty that they’re hesitant to go all-in.”
Pakistan’s gold market remains highly sensitive to both the rupee-dollar exchange rate and international spot prices. With the central bank maintaining a tight grip on monetary policy and import restrictions still impacting physical supply, local premiums over international prices remain volatile.
While today’s drop offers a brief reprieve for retail buyers, analysts warn that the underlying factors—geopolitical tensions and central bank buying globally—keep the long-term outlook for gold firmly bullish. For now, the domestic market is in a holding pattern, waiting to see if the global price stabilizes or continues its descent.
