Karachi: Gold prices in Pakistan witnessed a massive surge for the second consecutive day, recording an increase of thousands of rupees.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola jumped by 12,200 PKR, bringing it to a staggering 440,936 PKR. Similarly, the price of 10 grams of gold rose by 10,459 PKR to settle at 378,031 PKR.
This dramatic domestic spike closely mirrors the prevailing trends in the global bullion market, where international gold prices surged by 122 USD to reach 4,185 USD per ounce.
This latest rally comes immediately after a substantial hike on the previous day, when the per tola price had already climbed by 9,100 PKR, leaving local buyers and investors navigating an exceptionally volatile market.
The Unprecedented Rise of Gold Prices Since 2018
The trajectory of gold prices since 2018 highlights a dramatic shift driven by a combination of domestic economic challenges and global financial uncertainty.
In early 2018, gold in Pakistan was relatively accessible, trading at approximately 56,000 PKR to 65,000 PKR per tola, while international rates hovered around 1,200 USD per ounce.
However, the subsequent years triggered an unprecedented upward spiral.
By 2020, amid the global pandemic and initial waves of currency devaluation, domestic prices crossed the 100,000 PKR milestone.
The momentum accelerated aggressively between 2022 and 2024 as historic inflation and a sharp depreciation of the Pakistani rupee forced investors to turn to gold as a crucial safe-haven asset to protect their wealth.
Globally, escalating geopolitical tensions and central bank buying steadily pushed international gold past previous historical boundaries.
By 2026, the compounding impact of a weakened local currency and an intensely bullish global market shattered all prior records, driving domestic prices over the 440,000 PKR mark.
This represents an astonishing increase of more than 600% in less than a decade, fundamentally reshaping the local jewelry industry and investment landscape.
