Gold prices in Pakistan have surged to an unprecedented level, setting a historic record and sending shockwaves across markets, households, and the jewellery industry. Driven by both global and domestic factors, the price of gold has climbed to its highest point ever, raising serious concerns among buyers and traders alike.
The extraordinary rise reflects a broader trend seen in international markets, where investors are increasingly turning to gold as a safe haven amid economic and geopolitical uncertainty. However, in Pakistan, the speed and scale of the increase have been especially striking.
A Historic Leap in Local Gold Prices
According to the latest market data, the price of gold per tola jumped by a massive Rs10,900 in a single day. This pushed the new rate to Rs532,062 per tola, marking the first time in Pakistan’s history that gold has crossed the half-a-million-rupee threshold.
Also Read: Gold Prices Shatter Records in Pakistan, Surging Past Rs 500,000 per Tola
Market analysts are calling this milestone a significant economic moment. For many, it reflects not only global price movements but also the ongoing depreciation of the Pakistani rupee and inflationary pressures within the country.
Traditionally, gold has been viewed as a stable store of value in Pakistan. Families often rely on it as a form of savings and security. However, with prices now reaching such heights, this cultural and financial relationship with gold is being tested.
Ten-Gram Rate Also Breaks New Ground
The impact is not limited to the tola rate alone. The price of 10 grams of gold also recorded a sharp increase of Rs9,345. As a result, it now stands at Rs456,157, another all-time high.
For the first time, the price of 10 grams has crossed Rs450,000. This development has made gold significantly less affordable for ordinary consumers, particularly those planning weddings or other major family events where gold jewellery is traditionally purchased.
Jewellers report that walk-in customers have declined sharply in recent weeks. Many buyers are either postponing their purchases or shifting to lighter and simpler designs to manage costs.
Global Market Surge Adds to Pressure
Meanwhile, international markets have also witnessed a dramatic rise in gold prices. Globally, gold per ounce increased by $109 in a single session, reaching a historic level of $5,097 per ounce.
Several factors are driving this global rally. These include persistent inflation in major economies, rising geopolitical tensions in different regions, volatility in currency markets, and uncertainty surrounding interest rate policies of major central banks.
In times of instability, investors typically move their funds into gold, viewing it as a reliable hedge against risk. This growing demand has further fueled the upward trend in prices worldwide, which is directly reflected in Pakistan’s domestic market.
Silver Prices Also Hit Record Highs
Gold is not the only precious metal seeing record-breaking rates. Silver prices have also soared, surpassing all previous levels.
The price of silver per tola increased by Rs627, reaching Rs11,428, its highest ever recorded in Pakistan. Rising silver prices are adding further challenges for both jewellers and industries that rely on silver for manufacturing and electronics.
As with gold, the surge in silver is largely linked to global demand and economic uncertainty.
Impact on Consumers and the Jewellery Industry
The sharp increase in precious metal prices has had a profound effect on consumers. For middle-income households, purchasing gold has become increasingly difficult, if not impossible, at current rates.
In particular, families preparing for weddings are feeling the strain. Gold jewellery remains a central part of marriage traditions in Pakistan, but soaring prices are forcing many to reconsider long-standing customs or scale back significantly.
The jewellery industry, too, is under pressure. While high prices may benefit some traders in the short term, overall sales volumes are declining. Many jewellers report reduced footfall and slower business compared to previous years.
Investors Flock to Gold as a Safe Haven
On the other hand, investors appear more attracted to gold than ever. In uncertain economic times, gold is often seen as a safe investment that protects wealth from inflation and currency devaluation.
As more investors turn to gold, demand continues to rise, which may further strengthen the upward price trend. Analysts warn that this cycle could continue if global economic instability persists.
What Lies Ahead?
Financial experts suggest that if current global conditions remain unchanged, further increases in gold prices cannot be ruled out. Factors such as prolonged geopolitical tensions, high inflation, and unstable financial markets may keep pushing prices higher.
For ordinary citizens, this means continued financial pressure. For investors, however, gold remains an appealing option in an unpredictable world.
What is clear is that gold has entered a new era in Pakistan’s economic landscape – one where record-breaking prices are reshaping both consumer behavior and investment strategies.
