Gold prices in Pakistan jumped sharply on Friday, mirroring strong gains in the international bullion market and reinforcing gold’s status as a safe-haven asset for investors. In the local market, the price of gold per tola rose by Rs5,700 in a single day, reaching Rs460,262, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This upward movement reflects a broader global trend, where uncertainty in financial markets and persistent inflation concerns have continued to push investors toward precious metals, particularly gold.
Latest Gold Rates Across the Country
Alongside the per tola increase, the price of 10-gram gold also recorded a significant rise. It was sold at Rs394,600 after gaining Rs4,887 during the day. Just a day earlier, the market had witnessed a brief correction when gold per tola fell by Rs2,400 to settle at Rs454,562.
Such fluctuations show that gold prices in Pakistan remain highly sensitive to both global market movements and local demand dynamics. Despite short-term volatility, the overall trend in recent weeks has remained strongly bullish.
International Gold Market Driving Local Prices
The rise in domestic rates was primarily driven by a surge in international gold prices. On Friday, gold in the global market climbed by $57 to reach $4,379 per ounce, including a premium of $20.
International gold prices have been supported by multiple factors, including geopolitical tensions, expectations of changes in global interest rates, and a weaker outlook for major currencies. Since Pakistan’s local gold market closely follows international benchmarks, any sharp movement abroad is quickly reflected at home.
As a result, gold prices in Pakistan tend to move almost in parallel with global trends, adjusted for currency exchange rates and local market premiums.
Silver Also Reaches a Record High
Gold was not the only precious metal to post gains. Silver prices also surged, with the per tola rate increasing by Rs227 to reach Rs7,862. This marked a new all-time high for silver in Pakistan, highlighting growing investor interest in alternative precious metals.
Silver often follows gold’s direction but can be more volatile due to its dual role as both an investment asset and an industrial metal. The recent rally suggests strong demand across the precious metals sector.
Why Investors Are Turning to Gold
The consistent rise in gold prices in Pakistan reflects a familiar pattern seen during periods of economic uncertainty. Gold is widely viewed as a hedge against inflation, currency depreciation, and financial instability.
In Pakistan, additional factors such as rupee volatility, rising living costs, and limited investment options also play a role in boosting local demand. Many investors prefer to park their savings in gold to preserve purchasing power over the long term.
Jewellers note that while higher prices can temporarily slow down retail jewellery sales, investment demand often remains intact, especially during times of global economic stress.
Impact on Consumers and the Jewellery Market
For ordinary consumers, rising gold prices can be a double-edged sword. On one hand, existing holders of gold benefit from higher valuations. On the other, those planning weddings or major purchases may find it increasingly difficult to afford jewellery.
Jewellery traders report that customers are becoming more cautious, opting for lighter designs or delaying purchases in hopes of a price correction. However, given the strong global momentum, many analysts believe any major drop in gold prices in Pakistan may be short-lived.
Market Outlook for the Coming Weeks
Looking ahead, the outlook for gold remains closely tied to developments in the international economy. Decisions by major central banks, movements in the US dollar, and geopolitical events will continue to influence prices.
If global gold rates maintain their upward trajectory, local prices are likely to remain elevated as well. Analysts advise investors to keep a close watch on international signals while factoring in local currency movements when assessing gold prices in Pakistan.
The latest surge in gold prices in Pakistan underscores the metal’s enduring appeal during uncertain times. With per tola rates crossing Rs460,000 and silver touching record levels, the precious metals market is firmly in focus.
While short-term fluctuations are inevitable, gold continues to serve as a trusted store of value for Pakistani investors. As global and local economic conditions evolve, gold is expected to remain a key asset for both investment and wealth protection in the months ahead.
