KARACHI: Gold prices in Pakistan surged significantly today, following a major upward trend in the global market.
According to the All Pakistan Saraf Gems and Jewellers Association, the price of 24-karat gold per tola increased by 13,700 rupees to reach 471,936 rupees.
Meanwhile, the price of 10 grams of gold rose by 10,768 rupees, settling at 404,609 rupees. In the local silver market, the price of per-tola silver increased by 369 rupees to 7,169 rupees.
On the international front, spot gold jumped by 137 dollars, pushing the price per ounce to 4,495 dollars.
Two-Year Overview of Gold Prices (2024–2026)
Over the past two years, the gold market in Pakistan and international arenas has experienced unprecedented volatility, driven by persistent global economic uncertainties, currency fluctuations, and shifting monetary policies.
As safe-haven assets, gold and silver have consistently attracted institutional and retail investors seeking protection against inflation and geopolitical tensions.
In 2024, international gold prices began a steady climb, breaking previous records as major central banks lowered interest rates and continued aggressive bullion buying to diversify their foreign reserves.
This global momentum directly impacted Pakistan, where domestic gold prices frequently decoupled from international parity due to local currency depreciation, import restrictions, and soaring domestic inflation.
Investors within the country increasingly turned to gold as a primary hedge, driving local demand to historic highs despite declining purchasing power among the general populace.
Moving into 2025 and mid-2026, the upward trajectory accelerated even further.
Persistent global supply chain pressures, trade realignments, and ongoing regional conflicts amplified market anxiety, driving the international price per ounce toward unprecedented thresholds.
In Pakistan, local bullion markets mirrored these global surges, with per-tola rates scaling new peaks as the Pakistani Rupee faced intermittent downward pressure against the US dollar.
Market analysts note that while high valuations offer substantial returns for long-term holders, they also reflect deep-seated macroeconomic vulnerabilities.
High retail prices have severely constrained physical jewelry demand within local markets, shifting consumer behavior more toward bullion bars and investment certificates.
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As global central banks navigate a complex economic landscape, bullion remains heavily favored, though experts advise retail investors to exercise caution amid heightened price volatility.
