KARACHI: Gold price up in Pakistan on Monday, August 3, 2026, due to a bullish trend in the global market for gold bullion. The price of 24 carat gold per tola rose by Rs1,700 to reach Rs428,436 according to the rates announced by the All Pakistan Sarafa Gems & Jewellers Association.
Local Gold Prices Across Different Weights
As well as the rise in price for per tola, there was an increase of Rs1,457 for 10 grams of 24 karat gold in the value of Rs367,314, whereas there was an increase of Rs1,335 for 10 grams of 22 karat gold to become Rs336,716.
In the international market, there was an increase in the price of gold of $17, and now the price of gold is $4,060 per ounce based on the information released by the association. The increase in the international market price is quite similar to the price change in the domestic market.
Silver rates have also seen some rises in the local market along with gold. In this regard, the rate of silver per tola has risen Rs54 to become Rs6,291, and the rate of 10 grams of silver has risen by Rs46 to become Rs5,393. The global rates of silver have also seen a rise of $0.54 to $58.12 per ounce.
On Monday, international markets continued to be volatile due to falling oil prices and erratic behavior of stock market indexes due to fresh optimism regarding any progress on the Middle Eastern peace process. The Japanese yen gained strength as a result of joint actions of the U.S. and Japan to intervene and help the currency.
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Brent crude futures dropped by more than 4% to trade at $83.88 after President Donald Trump of the United States declared that negotiations with Iran were likely to begin on Monday. Earlier, he had cancelled plans for a military attack on Iran in order to negotiate a deal regarding the security of the Strait of Hormuz, which was causing anxiety due to Tehran’s nuclear program.
S&P 500 futures on the other hand climbed 0.5%, while Nasdaq futures increased 0.8%. Futures for Europe advanced 0.7%, indicating that despite some uncertainty in the commodity market and foreign exchange markets, stocks have had a rather positive mood.
The prices of gold were driven by geopolitical tensions in the Middle East, as the impact of these tensions on inflation and economic stability was being analyzed. Nevertheless, in spite of the recent rise in the price of gold, there have been recent pressures on gold, owing to changing market sentiments.
Gold prices are expected to continue fluctuating over the coming days amid close scrutiny of events in the Middle East, US dollar movements, and upcoming economic indicators, among other issues. Historically known as a “safe-haven” metal during times of political and economic instability, gold is extremely reactive to shifts in global risk appetite and interest rates, implying more volatility ahead depending on how these factors change.