Gold prices in Pakistan rise again

Gold prices in Pakistan have been climbing steadily for several days after remaining on a downward trend for weeks.

Continuing this upward trajectory, gold prices in the local market increased by Rs500 per tola on Monday, According to the All Pakistan Sarafa Gems and Jewellers Association.

The rate for 24-karat gold rose to Rs359,500 per tola, while the price of 10 grams of 24-karat gold climbed by Rs429 to Rs308,213.

Meanwhile, 10 grams of 22-karat gold were being sold at Rs282,529.

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The recent increase in the gold prices in Pakistan is in line with the international marker trends, where gold gained $5 per ounce, reaching $3,368 on Monday.

Oil sales up 8% YoY

On the other hand, Pakistan’s Oil Marketing Companies (OMCs) recorded total sales of 1.22 million tons in July 2025, reflecting a 2 percent year-on-year (YoY) increase but a 22 percent decline on a month-on-month (MoM) basis.

Pakistan Oil Marketing – Ex-FO OMC sales up 8% YoY but down 16% MoM in Jul 2025
(Aug 04, 2025)#OMC #Oil #Pakistan #Topline pic.twitter.com/H5bJFckLlC

— Topline Securities Ltd (@toplinesec) August 4, 2025

Excluding Furnace Oil (FO), sales stood at 1.21 million tons, marking an 8 percent YoY rise but a 16 percent MoM drop, according to a research report issued by Topline Securities on Monday.

The YoY increase was primarily driven by gradual economic recovery and a reduction in smuggling from Iran.

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The sharp MoM decline, on the other hand, was attributed to higher petrol and diesel prices, along with heavy rains and flooding in the northern region during July.

In addition, there was some pre-buying activity in June 2025 in anticipation of a possible price hike following the imposition of the carbon or climate support levy.

PSX all-time high on oil & gas boost

The opening day of the trading week proved fortunate for the Pakistani market as the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index ended the session at 142,098, marking a gain of 1,018 points or 0.72% — its highest closing level to date.

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The rally was fuelled by positive sentiment surrounding Oil & Gas Development Company, which received its first TFC interest payment of Rs7.7 billion, as well as optimism over upcoming cement sector results, backed by improved monthly performance, Topline Securities said.