Gold Prices in Pakistan Jump Rs. 9,600 per Tola as Global Bullion Rates Surge

Gold prices in Pakistan continued their steep upward march on Thursday, with the local rate for 24-karat gold rising by Rs. 9,600 per tola to reach Rs. 435,636, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The latest jump builds on Wednesday's heavy increase, bringing the cumulative gain over two days to roughly Rs. 23,500 per tola.

The association reported that the price of 10 grams of 24-karat gold rose by Rs. 8,230 to Rs. 373,487. The move follows Wednesday's increase of Rs. 13,900 per tola, when the domestic rate climbed to Rs. 426,036, underscoring how quickly local prices are tracking overseas markets.

The domestic surge was driven by another sharp advance in international bullion markets, where gold climbed $96 to reach $4,131 per ounce. Because Pakistan meets most of its gold demand through imports, local rates move closely with global benchmarks and the rupee's exchange value, making overseas price swings a major factor in retail jewellery costs.

Silver also edged higher in the local market, with the price rising Rs. 100 per tola to Rs. 5,763 on Thursday. While silver receives less attention than gold, its movement often reflects the same broader forces pushing precious metals higher.

The sustained rally matters for households and small businesses alike, as gold remains a popular savings and investment vehicle in Pakistan, particularly for weddings and long-term wealth preservation. Buyers planning to purchase jewellery or coins may face significantly higher costs if the trend continues, while existing holders see the value of their assets increase.

Market watchers attribute the momentum to strong international demand for safe-haven assets and shifts in global monetary conditions. Traders will be monitoring overseas rates and currency movements in the coming sessions to gauge whether the local rally has further room to run.