Gold prices in Pakistan surge by Rs10,000 per tola, hitting record high
Gold prices in Pakistan witnessed a sharp increase on Wednesday, with the price of 24-karat gold rising by Rs10,000 per tola, pushing the precious metal to a new record level in the domestic market.
According to the All Pakistan Gems and Jewellers Association (APGJA), the price of one tola of 24-karat gold increased to Rs437,936 after the latest surge. The price of 10 grams of 24-karat gold also climbed by Rs8,573, reaching Rs375,459.
The significant increase has heightened concerns among consumers, investors, and jewellery traders as gold continues to become more expensive. The latest jump is among the largest single-day increases recorded in recent months and reflects ongoing volatility in both domestic and international bullion markets.
Although the APGJA did not specify the exact reason behind the latest rise, market analysts believe the increase is largely driven by higher international gold prices, continued global economic uncertainty, and the depreciation of the Pakistani rupee against major foreign currencies.
As Pakistan relies on imported gold, domestic prices closely follow international bullion trends and exchange rate movements. Any increase in global gold prices or weakening of the rupee typically results in higher local gold rates.
The record-high prices are expected to affect Pakistan’s jewellery industry, particularly during the wedding season when demand for gold traditionally increases. Industry experts believe many consumers may postpone purchases or opt for lighter jewellery due to rising costs.
Jewellers have also expressed concern that sustained high prices could reduce overall business activity, while investors seeking a safe-haven asset may continue purchasing gold despite the increased rates.
Financial analysts note that gold often attracts investors during periods of inflation, economic uncertainty, and geopolitical tensions. As demand for safe investments grows worldwide, international gold prices tend to rise, directly influencing Pakistan’s local bullion market.
Market participants will continue monitoring global bullion prices and currency exchange rates to determine whether gold prices maintain their upward momentum or stabilize in the coming days.
