After a period of steady decline, gold prices in Pakistan have risen sharply once again. The sudden increase has surprised buyers and traders alike, highlighting the continued volatility in both local and global bullion markets.
According to the All Pakistan Gems and Jewellers Association (APGJA), gold prices across the country jumped by tens of thousands of rupees in a single day. The rise follows several sessions of falling prices, which had briefly raised hopes among consumers planning jewellery purchases or investments.
Gold Prices Surge Nationwide
The association announced new official rates on Tuesday, confirming a significant upward revision. As a result, the price of gold per tola increased by Rs24,000. The new price now stands at Rs514,362 per tola.
Similarly, the price of 10 grams of gold rose by Rs20,576. It is now priced at Rs440,982. These rates apply to standard 24-karat gold, which is commonly used as the benchmark in Pakistan’s bullion trade.
Jewellers in major cities, including Karachi, Lahore, and Islamabad, reported immediate effects. Many customers delayed purchases, hoping prices may stabilise again in the coming days. Traders, however, described the surge as a correction after the recent downward trend.
Impact on Buyers and the Jewellery Market
Gold holds deep cultural and economic importance in Pakistan. It is widely bought for weddings, savings, and long-term security. Therefore, sudden price movements often have a direct impact on household decisions.
In recent weeks, falling prices had encouraged renewed interest from buyers. However, this sharp rebound has once again made gold less affordable for many families. Jewellery sellers say footfall usually drops after such abrupt increases.
At the same time, investors tend to view rising gold prices as a hedge against inflation and currency weakness. This dual role often creates mixed reactions in the market.
Global Gold Prices Climb
The increase in local prices closely mirrors developments in the international market. Globally, gold prices rose by $240 per ounce, reaching $4,916 per ounce.
International gold rates are influenced by several factors. These include inflation trends, interest rate expectations, geopolitical tensions, and movements in the US dollar. When global prices rise, local markets like Pakistan usually follow.
Additionally, Pakistan’s gold prices are affected by exchange rate movements. Since gold is imported, any pressure on the local currency can further push prices higher, even if global rates remain stable.
Why Gold Prices Remain Volatile
Market analysts say gold volatility has become more frequent in recent years. Global economic uncertainty has played a major role. Central bank policies, especially in major economies, continue to influence investor sentiment.
Moreover, ongoing geopolitical developments have increased demand for safe-haven assets. Gold traditionally benefits during such periods, as investors seek stability amid uncertainty.
In Pakistan, supply chain costs, import restrictions, and fluctuating demand also contribute to price swings. As a result, even small changes in the global market can have amplified effects locally.
Outlook for the Coming Days
Jewellers advise buyers to closely monitor the market before making large purchases. While some corrections are possible, sustained global uncertainty could keep prices elevated.
For now, the latest surge serves as a reminder of how quickly gold prices can change. Both consumers and investors remain cautious, watching international trends and local economic signals.
As gold continues to play a central role in Pakistan’s economy and culture, its price movements are likely to remain in the spotlight in the days ahead.
