KARACHI: Gold prices have surged across Pakistan once again on Friday.
According to the sources , gold and silver bullion markets across global and local trading centers experienced a significant upward trend following a brief one-day pause, as escalating commodity demand and currency fluctuations drove gold rates in Pakistan higher.
According to figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold rose by PKR 2,800 per tola in the domestic market, settling at PKR 440,636. Similarly, the price of 10-gram gold climbed by PKR 2,401 to reach PKR 377,774.
In the international bullion market, spot gold gained $28 per ounce, rising to $4,181 per ounce. Meanwhile, local silver prices mirrored the bullish momentum, increasing by PKR 108 per tola to stand at PKR 6,256.
Financial analysts attribute this sudden spike in gold rates in Pakistan to foreign exchange market shifts and heightened global economic volatility.
Overview of Gold Rates in Pakistan Over the Past Three Years
The trajectory of gold rates in Pakistan over the last three years reflects a period of unprecedented macroeconomic volatility, inflationary pressure, and global market shifts.
Between 2023 and 2026, precious metals shifted from traditional celebratory ornaments into essential safe-haven financial assets for local investors seeking protection against currency devaluation.
In mid-2023, gold traded at approximately PKR 200,000 to PKR 220,000 per tola.
However, domestic economic headwinds, including rupee depreciation against the US dollar and elevated import inflation, rapidly accelerated price growth. By 2024 and 2025, persistent central bank rate adjustments, international geopolitical conflicts, and rising global spot prices pushed bullion values through successive psychological resistance levels.
Local demand surged as equities and real estate faced periodic stagnation, making physical gold the preferred hedge against domestic inflation.
By early 2026, international gold benchmarks surpassed historical highs due to global economic policy shifts and central bank reserve accumulations worldwide.
Consequently, the local bullion market adjusted upward to record levels exceeding PKR 400,000 per tola.
This extraordinary triennial rise underscores how domestic currency valuations and global market shocks directly dictate local commodity trends.
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Looking ahead, market analysts anticipate that macroeconomic stabilization efforts and international spot price trends will continue to determine the future movement of gold rates in Pakistan.
