Gold prices in Pakistan have reached a historic high, marking one of the sharpest single-day surges seen this year. As per the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola jumped by Rs. 8,400, hitting an unprecedented Rs. 425,178. Likewise, 10 grams of 24-karat gold rose by Rs. 7,202 to Rs. 364,521.
Even 22-karat gold saw a significant increase, trading at Rs. 334,156 per 10 grams, reflecting an overall rise across all purity levels. The global market mirrored this momentum, with international gold prices climbing by $84 per ounce, settling at $4,039. Experts attribute this spike to economic uncertainty, inflationary pressures, and a growing shift toward safe-haven investments like gold.
Jewellers in Karachi, Lahore, and Islamabad reported higher investor activity, though general jewellery demand remains moderate due to high price levels. Meanwhile, silver prices also inched upward, with the per tola rate increasing by Rs. 55 to Rs. 4,984.
Market analysts suggest that the trend could persist if the Pakistani rupee weakens or if global prices stay elevated. While this rise benefits investors, it also creates challenges for those purchasing jewellery, particularly ahead of the winter wedding season.
