Gold prices in Pakistan continued their upward march on Tuesday, rising for yet another day and deepening concerns among consumers, investors, and jewellers alike. According to market data, the price of gold increased by Rs2,000 per tola, marking one of the sharpest daily gains in recent weeks. The surge highlights the persistent volatility in the precious metals market and reflects broader economic pressures facing the country.
Also Read: Gold Prices Surge to Record High in Pakistan
Latest Gold Rates Across Pakistan
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of one tola of gold reached Rs472,862 after the latest increase. This level represents a historic high in the domestic bullion market.
Similarly, the price of 10 grams of gold also moved upward. It rose by Rs1,714, bringing the new price to Rs405,402. Jewellers across major cities reported steady demand, despite the soaring rates.
Traders noted that price changes were implemented uniformly across Karachi, Lahore, Islamabad, and other urban centers. As a result, buyers faced the same elevated rates nationwide.
Gold Prices Up Over Rs200,000 in One Year
The latest increase adds to an already remarkable yearly rise. Since the start of the current year, gold prices in Pakistan have climbed by Rs200,262 per tola. This extraordinary jump has made gold one of the best-performing assets in the local market.
For many households, however, the surge has placed gold well beyond reach. Weddings and traditional purchases have slowed, according to jewellers. Meanwhile, investors continue to view gold as a safer option during uncertain economic times.
Why Gold Prices Are Rising
Several factors are contributing to the sustained increase in gold prices. First, global gold markets remain volatile due to ongoing geopolitical tensions and economic uncertainty. Investors worldwide often turn to gold during periods of risk.
Second, the depreciation of the Pakistani rupee has played a major role. Since gold is traded internationally in US dollars, a weaker rupee makes imports more expensive. As a result, domestic prices rise even if global rates remain stable.
Additionally, inflationary pressures within Pakistan continue to influence commodity prices. Gold is widely used as a hedge against inflation, which increases demand during periods of rising consumer prices.
Impact on Consumers and Jewellers
The rapid increase has affected buying behaviour across the country. Many consumers are delaying purchases, hoping for a price correction. Others are choosing lighter jewellery or switching to alternatives.
Jewellers, meanwhile, face mixed conditions. Although the value of inventory has increased, sales volumes have declined. Small traders are especially vulnerable, as high prices reduce walk-in customers.
Despite these challenges, industry representatives say gold remains culturally and financially important. Demand often rebounds during wedding seasons and religious festivals.
Outlook for the Gold Market
Market experts caution that gold prices may remain volatile in the near term. Global economic signals, currency movements, and central bank policies will continue to influence trends.
However, analysts also note that any significant drop in prices may depend on improved economic stability. Until then, gold is likely to retain its appeal as a store of value.
For now, consumers and investors alike are closely watching the market. Each daily increase reinforces gold’s status as both a prized asset and a growing financial burden for many Pakistanis.
