Gold prices have skyrocketed to an all-time high in Pakistan, following a sharp rise in the international market.
According to the All Pakistan Sarafa Gems and Jewellers Association, one tola of 24-karat gold surged by Rs8,100 to reach a record-breaking Rs357,800 — the highest rate in the country’s history.
Meanwhile, 10 grams of 24K gold became dearer by Rs6,944, pushing the price up to Rs306,755, while 10 grams of 22K gold climbed by Rs6,366 to settle at Rs281,202.
The unprecedented jump in domestic gold prices mirrors developments in the global market, where gold per ounce increased by $69, reaching a staggering $3,395 — marking the highest international gold rate ever recorded.
Market experts cite economic instability, growing geopolitical tensions, and a rush toward safe-haven assets as primary reasons behind the surge.
Silver prices also experienced upward momentum. One tola of 24K silver increased by Rs24 to Rs3,441, while 10 grams rose by Rs21 to Rs2,950.
On the international front, silver prices edged up by $0.22, reaching $32.77 per ounce.
Officials noted that local gold rates are based on interbank exchange rates, further magnifying the impact of global market trends on domestic pricing.
Muhammad Qasim Shikarpuri, President of the All Pakistan Sarafa Gems and Jewellers Association, confirmed that this marks the highest ever gold rate recorded in Pakistan.
As gold continues to glitter in turbulent times, its soaring value may offer relief to investors but poses affordability challenges for consumers, particularly in the jewellery sector.