Gold prices in Pakistan surged to an unprecedented level on Tuesday, bringing the yellow metal within striking distance of Rs. 400,000 per tola.
According to figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rate of 24-karat gold jumped by Rs. 4,100, touching Rs. 388,100 per tola. Just a day earlier, the same stood at Rs. 384,000.
Smaller Units See Similar Gains
The increase was equally sharp in smaller denominations. Ten grams of 24-karat gold rose by Rs. 3,514 to Rs. 332,733. Meanwhile, 22-karat gold reached Rs. 305,016 per 10 grams after gaining Rs. 3,222.
Silver Prices Edge Higher Too
The precious metals rally wasn’t limited to gold. Silver also inched upward, with 24-karat silver per tola rising by Rs. 20 to Rs. 4,358. The price of 10 grams of silver added Rs. 17, settling at Rs. 3,736. Globally, silver climbed to $41.25 per ounce, up $0.20 from the previous day.
Why It Matters
Gold’s record-breaking run reflects a mix of domestic and global pressures. On one hand, the international market continues to see heightened demand for safe-haven assets amid economic uncertainty. On the other, Pakistan’s weakening currency and inflationary environment have amplified the price surge at home.
With gold now just shy of Rs. 400,000 per tola, jewellers expect consumer demand to cool further, as affordability becomes a growing concern for buyers ahead of the wedding season.
