KARACHI: Gold prices increased sharply in Pakistan on Saturday, August 8, 2026. The latest rise followed gains in the international bullion market.
The increase marked the fourth consecutive daily advance in local gold rates. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), prices rose across key categories.
The price of 24-karat gold increased by Rs2,200 per tola. It reached Rs456,536, compared with Rs454,336 a day earlier.
The price of 24-karat gold also increased on a 10-gram basis. It rose by Rs1,887 to Rs391,406 from Rs389,519.
Internationally, gold prices also recorded a significant increase. The precious metal gained $22 per ounce during the latest session.
The international gold rate reached $4,341 per ounce. It stood at $4,319 in the previous session.
Silver Prices Decline in Local Market
While gold continued its upward trend, silver prices moved lower in Pakistan. The price of silver fell by Rs113 per tola.
Silver declined from Rs6,939 to Rs6,826 per tola. The contrasting movements reflected different trends in the local precious metals market.
Weaker Dollar Supports Gold
A weaker US dollar provided support to international gold prices. A softer dollar makes gold more affordable for buyers using other currencies.
Investors also remained focused on developments in the Middle East. Ongoing geopolitical concerns continued to influence global financial markets.
Oil prices also moved higher on Friday. Concerns increased over shipping activity through the Strait of Hormuz.
Iran, in coordination with Oman, proposed restrictions on certain vessels. The proposal could also include heavy fines for vessels that violate the rules.
Brent crude futures increased by 99 cents, or 1.2%. The price reached $83.48 per barrel.
US West Texas Intermediate crude also gained 85 cents, or 1.1%. It settled at $78.84 per barrel.
According to Iran’s Fars News Agency, a parliamentary committee is reviewing related legislation. The proposed law would restrict certain vessels from using the Strait of Hormuz.
Investors are also watching efforts to reduce tensions in the region. Qatar said mediators were making progress toward easing regional tensions.
However, Tehran rejected claims that negotiations were already underway. These developments have kept uncertainty high across global markets.
Outlook for Gold Prices
Analysts expect gold prices to remain volatile in the coming days. Investors will closely watch geopolitical developments and currency movements.
They will also monitor upcoming economic data and central bank policy decisions. Changes in interest-rate expectations could influence demand for gold.
Gold is traditionally considered a safe-haven asset. Investors often turn to it during periods of economic and geopolitical uncertainty.
Inflation expectations and global risk sentiment can also affect demand. Movements in the US dollar remain another important factor.
For Pakistan, international gold trends can directly influence local bullion rates. Therefore, further global market movements could impact domestic prices.
In other news read more about Gold Prices Jump In Pakistan As Global Bullion Market Rallies
The latest increase keeps gold prices on an upward path for the fourth straight session. Market participants will now watch whether the momentum continues in coming days.
