KARACHI: Gold prices continue to surge worldwide, with Pakistan reaching an all-time high.
According to the All Pakistan Gems and Jewellers Association, gold rose by Rs 12,700 per tola today, pushing the price to a historic level of Rs 506,362 per tola for the first time in the country’s history.
Additionally, 10 grams of gold increased by Rs 10,888, bringing its price to Rs 444,123.
In the international market, gold climbed $127 per ounce to reach $4,840 per ounce.
Meanwhile, silver per tola gained Rs 64, taking its price to Rs 9,933.
Gold and silver prices in Pakistan are primarily determined by international bullion market trends, as the country is a net importer of these precious metals with local rates closely tracking global spot prices quoted in US dollars.
The Pakistani rupee’s exchange rate against the dollar plays a crucial role, since any depreciation of the rupee makes imported gold and silver more expensive in local currency terms, amplifying upward movements even when global prices are stable.
Global demand for gold as a safe-haven asset surges during periods of economic uncertainty, high inflation expectations, geopolitical tensions, or political instability, pushing international prices higher and directly influencing Pakistan’s market.
Silver often follows gold’s trajectory but can experience additional momentum from its dual role in industrial applications, such as electronics and solar energy, alongside investment demand.
Local factors like seasonal demand during wedding seasons or festivals, investor sentiment favoring precious metals over volatile stocks amid domestic economic pressures, and occasional central bank buying worldwide further contribute to price fluctuations.
In the current environment of January 2026, persistent currency pressures, strong international bullion rates driven by safe-haven flows, and broader global uncertainties have combined to drive both metals to elevated levels in Pakistan.
