ISLAMABAD — Gold rates in Pakistan held steady on Monday, February 23, 2026, with 24-karat gold priced at Rs517,000 per tola in the local bullion market, according to market data released by jewellers’ associations. The price for 22-karat gold stood at Rs474,038 per tola, reflecting stable trading conditions after recent fluctuations.
In the domestic market, 24K gold was available at Rs443,244 per 10 grams and Rs44,324.40 per gram. Prices for other purities were also unchanged, with 21K gold at Rs452,491 per tola and 18K gold at Rs387,850 per tola. The international gold rate was reported at $5,139 per ounce.
Recent price movement
Gold prices have experienced volatility over the past 10 days. After crossing Rs526,000 per tola earlier this month, rates retreated and stabilized at the current level.
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In global markets, bullion recently came under pressure after stronger-than-expected United States employment data reduced expectations of near-term interest rate cuts by the Federal Reserve. A firmer US dollar typically weighs on gold prices, as the commodity is traded internationally in dollars. Spot gold briefly dipped below the $5,000 per ounce mark before recovering modestly.
How gold prices are determined in Pakistan
Local gold prices are primarily linked to three factors: the international spot price, the US dollar to Pakistani rupee exchange rate, and domestic market premiums that cover logistics and supply costs.
Because gold is traded globally in dollars, any movement in the exchange rate has a direct impact on prices in Pakistan. A weaker rupee increases the cost of importing gold, pushing domestic rates higher even if international prices remain stable.
Demand and economic context
Gold continues to hold cultural and financial importance in Pakistan, particularly during the wedding season when jewelry purchases typically rise. It is also widely regarded as a hedge against inflation and currency depreciation.
Analysts note that persistent inflation and exchange rate pressures have contributed to the broader upward trend in bullion prices in recent years. Market participants are closely watching upcoming global economic data, particularly US inflation figures, which could influence international price direction in the coming weeks.
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