Pakistan’s local bullion markets recorded a sharp rise in gold and silver prices on Wednesday as international precious metal prices continued to climb.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold increased by Rs10,000 per tola on August 5, 2026, taking it to Rs437,936 per tola.
The price of 24-karat gold per 10 grams went up by Rs8,573 to Rs375,459, while 22-karat gold per 10 grams rose by Rs7,859, reaching Rs344,183.
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Silver prices also moved higher in the local market. One tola of silver became costlier by Rs273, taking the price to Rs6,624. Meanwhile, the price of 10 grams of silver increased by Rs235 to Rs5,679.
The increase in domestic prices followed strong gains in international bullion markets, where gold rose by around $100 to trade near $4,155 per ounce. Silver also gained $2.73, reaching $61.45 per ounce.
Global gold prices have remained firm due to the weaker US dollar, shifting expectations about US monetary policy, and renewed geopolitical developments, including market reactions to diplomatic developments between the United States and Iran. Spot gold recently touched around $4,164 per ounce, its highest level in a month.
Market analysts said investors are closely watching upcoming US economic data, especially labour market figures, as they could affect future interest rate decisions by the Federal Reserve and influence the direction of precious metal prices.
The continued strength in international bullion prices, along with currency movements and local market conditions, has pushed gold prices in Pakistan close to fresh record highs.