ISLAMABAD: After a one-day decline in gold prices nationwide, rates have risen again.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola increased by Rs 9,100 today, reaching Rs 514,662.
Similarly, the price of 10 grams of gold rose by Rs 7,802 to Rs 441,239.
Over the past five years, gold prices in Pakistan have experienced a remarkable and largely continuous upward trajectory, driven by a combination of global gold rallies, persistent depreciation of the Pakistani rupee against the US dollar, high domestic inflation, and increasing investor preference for gold as a safe-haven asset amid economic uncertainties.
Starting around early 2021 levels of roughly Rs 110,000 to 130,000 per tola for 24-karat gold, prices climbed steadily through the period, crossing Rs 180,000 by the end of 2022, surging further to around Rs 250,000 to 280,000 by late 2024, and then accelerating dramatically in 2025 to surpass Rs 400,000 and even approach or exceed Rs 500,000 per tola in early 2026.
This multi-fold increase often exceeding 300 to 400% in PKR terms over the five-year span, reflects not only rising international gold values but especially the sharp erosion of the rupee’s purchasing power, making gold an increasingly attractive hedge for Pakistani households and investors.
While occasional short-term corrections and minor dips occurred due to temporary global pullbacks or local market dynamics, the overall trend has been consistently bullish, with record highs becoming frequent in recent years and no sustained reversal in sight as macroeconomic pressures persist.
