Gold prices in Pakistan surged to another all-time high on Saturday, reflecting strong momentum in the international bullion market and continued local demand for safe-haven assets. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola jumped sharply, underlining how precious metals continue to attract investors amid global uncertainty.
In the local market, the price of gold per tola rose by Rs6,500 in a single day to reach Rs521,162. This marks a historic level and follows a strong upward trend seen over recent weeks. Just a day earlier, gold per tola had already climbed to Rs514,662 after gaining Rs9,100, showing how rapidly prices are moving.
Sharp Rise in 10-Gram Gold Rates
Alongside per tola prices, 10-gram gold also recorded a significant increase. The rate for 10 grams of gold rose by Rs5,573 to reach Rs446,812. For jewellery buyers and investors alike, this steady climb highlights the growing cost of acquiring physical gold in the domestic market.
Market analysts say gold prices in Pakistan are closely tracking global trends, with local rates also influenced by the rupee-dollar exchange rate, import costs, and investor sentiment. As international gold becomes more expensive, domestic prices adjust quickly, often amplifying the impact for local buyers.
International Gold Market Drives Local Surge
The latest increase was largely driven by a strong rally in the international gold market. Globally, gold prices jumped by $65 per ounce to reach $4,988, including a premium of $20. This international surge played a key role in pushing local prices to record levels.
Global investors have been moving toward gold due to concerns over inflation, geopolitical tensions, and uncertainty in major economies. As central banks maintain cautious monetary policies and global markets remain volatile, gold continues to be seen as a reliable store of value.
Because Pakistan relies on imported gold, fluctuations in the global market are quickly reflected domestically. This is why gold prices in Pakistan often show sharp daily movements when international rates spike.
Silver Also Touches a New High
The rally was not limited to gold alone. Silver prices in Pakistan also reached a new all-time high. On Saturday, the price of silver per tola increased by Rs526 to reach Rs10,801. This rise mirrors global trends, where silver has also benefited from increased demand as both an industrial metal and a precious asset.
The rise in silver prices adds to the overall inflationary pressure in the precious metals market, affecting jewellers, traders, and consumers alike.
Why Are Gold Prices Rising So Fast?
Several factors are contributing to the rapid increase in gold prices in Pakistan. Internationally, fears of economic slowdown, ongoing geopolitical risks, and expectations around interest rate decisions have boosted demand for gold. Investors typically turn to gold during uncertain times to protect their wealth.
Locally, the depreciation pressure on the Pakistani rupee against the US dollar also plays a role. Since gold is priced in dollars internationally, any weakness in the rupee makes imported gold more expensive, even if global prices remain stable.
Additionally, demand from investors and households often increases during times of economic uncertainty, further pushing up prices in the domestic market.
Impact on Consumers and Investors
For consumers, especially those planning weddings or purchasing jewellery, the surge in gold prices presents a challenge. Many buyers are either postponing purchases or opting for lighter jewellery to manage costs.
On the other hand, investors who already hold gold have seen the value of their assets rise significantly. For them, the continued rally in gold prices in Pakistan reinforces gold’s role as a long-term hedge against inflation and currency depreciation.
However, experts caution that while gold has strong fundamentals, prices can be volatile in the short term. Sudden corrections are always possible, especially if global economic conditions change or investor sentiment shifts.
What Lies Ahead for Gold Prices?
Looking forward, analysts believe gold prices will remain sensitive to global developments. Any changes in interest rate expectations, geopolitical tensions, or major economic indicators could influence international prices and, in turn, local rates.
If uncertainty persists in global markets, gold prices in Pakistan may continue to remain elevated. However, buyers are advised to stay informed and make decisions based on long-term goals rather than short-term price movements.
The latest surge has pushed gold and silver prices in Pakistan to unprecedented levels, reflecting strong global trends and local economic factors. With gold per tola crossing Rs521,000 and silver also touching a record high, precious metals remain at the center of investor attention.
As long as global uncertainty and currency pressures continue, gold prices in Pakistan are likely to stay in focus, shaping decisions for consumers, traders, and investors across the country.
