Gold reversed its two-day slide (Tommorow Rate) and bounced back sharply — driven by the same force that has been moving markets for three months: the unsigned Iran deal.
Daily Ausaf’s gold rate report confirmed gold and silver prices moved upward in both local and international markets after a brief decline the previous day. The gold rate in Pakistan today stands at Rs477,762 per tola — up Rs4,600 from yesterday’s close.
The All Pakistan Sarafa Gems and Jewellers Association confirmed 10-gram gold rose Rs3,943 to settle at Rs409,603.
Gold Price in Pakistan Today: 31 May 2026
| Gold Type | Rate (PKR) | Change |
|---|---|---|
| 1 Tola Gold (24K) | Rs477,762 | ▲ Rs4,600 |
| 10 Gram Gold (24K) | Rs409,603 | ▲ Rs3,943 |
| 1 Tola Gold (22K) | Rs437,948 | — |
| 1 Tola Gold (21K) | Rs418,042 | — |
| 1 Tola Gold (18K) | Rs358,32to2 | — |
Express Tribune’s gold coverage confirmed the per tola rate at Rs477,762 after the Rs4,600 increase. The gold and commodity market is responding directly to every development — or lack thereof — in the US-Iran ceasefire negotiations.
Silver Price in Pakistan Today
| Metal | Rate (PKR) | Change |
|---|---|---|
| Silver (per tola) | Rs8,270 | ▲ Rs236 |
Daily Ausaf reported silver posted a notable Rs236 increase, settling at Rs8,270 per tola in the local market.
International Gold Price Today
| Market | Price | Change |
|---|---|---|
| International Gold (per ounce) | $4,554 | ▲ $46 |
| Premium (Pakistan market) | $20 | — |
Express Tribune cited Adnan Agar, Director of Interactive Commodities, who noted the market was standing near its high because the US-Iran deal was “almost closed” — yet uncertainty over Trump’s signature keeps the premium elevated.
Analyst Tim Waterer told Brecorder: “In the near to medium term, the $4,400 to $4,800 range still looks firmly in play while we remain in this ceasefire-without-a-peace-deal stalemate.”
Why Gold Prices Are Rising Again
After falling Rs14,400 over two previous sessions, the gold rate in Pakistan today bounced back for four interconnected reasons:
1. Trump Still Has Not Signed the Iran Deal
We confirmed there was still no decision as of Sunday morning of Iran Deal. The absence of a signed deal pushes investors back toward gold as a safe-haven asset.
2. US Defence Secretary Warns Military Is Combat-Ready
CNN reported that Pete Hegseth told reporters Saturday that the US military is ready to resume combat in the Persian Gulf if required. That statement renewed fears of continued conflict — exactly the kind of signal gold markets react to.
3. Oil Prices Remain Elevated
Brent crude sits at approximately $92 per barrel — still well above the $70 level from late February before the war began. Elevated oil prices drive inflation expectations globally, and gold is the traditional hedge.
4. Post-Eid Physical Demand
Jewellery markets across Karachi’s Sarafa Bazaar and Lahore’s bullion markets have reopened after the Eid al Adha break. Physical gold buying has picked up — particularly for wedding season purchases.
Dollar Rate in Pakistan Today: 31 May 2026
| Currency | Buying (PKR) | Selling (PKR) |
|---|---|---|
| US Dollar | 278.80 | 279.65 |
| UAE Dirham | 75.75 | 76.80 |
| Saudi Riyal | 73.95 | 74.80 |
| British Pound | 372.91 | 378.10 |
| Euro | 322.10 | 328.10 |
Brecorder noted Pakistan’s gold rates closely follow the US dollar trajectory, as the country remains a net importer of the precious metal.
Gold Price Trend: May 2026
| Date | Per Tola (24K) | Daily Change |
|---|---|---|
| May 10 | Rs484,500 | — |
| May 14 | Rs492,362 | ▲ Rs1,000 |
| May 21 | Rs475,362 | ▲ Rs5,000 |
| May 26 | Rs477,762 | ▲ Rs4,600 |
| May 27 | Rs485,062 | ▲ Rs7,300 |
| May 28 | Rs479,562 | ▼ Rs5,500 |
| May 29 | Rs485,062 | ▲ Rs5,500 |
| May 31 | Rs477,762 | ▲ Rs4,600 |
Gold finished May 2026 approximately Rs14,600 lower than its monthly peak of Rs492,362 on May 14 — but the month was defined by extreme volatility tied directly to every twist in the US-Iran war.
Should You Buy Gold Now?
Hamariweb’s gold rate analysis lists demand, rupee value, international pricing, interest rates, and investor behaviour as the primary drivers. Brecorder is more direct — forecasting short-term gold rates in Pakistan is genuinely difficult while the Iran ceasefire stalemate continues.
With the Budget 2026-27 on June 5, there is a possibility of changes to gold import duties or GST on gold transactions that could alter local pricing.
24PakTimes recommends consulting a licensed financial advisor before making any gold investment decisions.
