Gold Prices in Pakistan Rally to Record Highs

KEY POINTS

• 24K gold rises by Rs 5,900 to Rs 403,600 per tola
• Price per 10 grams reaches Rs 346,021; per gram Rs 34,602
• 22K trades at Rs 370,062, 21K at Rs 352,188, 18K at Rs 301,875
• Consumer and investor activity shifts amid rising prices

ISLAMABAD: Gold prices in Pakistan surged to a new record high as investors sought safe-haven assets amid economic uncertainties and persistent demand for bullion alike in local and international markets.

Analysts told the local media that the trend is being driven by both global price pressures and local market sentiment favouring gold as a hedge.

According to Gold.pk, the 24-karat gold per tola rose to Rs 403,600, up Rs 5,900 from Sunday, while the price per 10 grams reached Rs 346,021, and the rate per gram stood at Rs 34,602. 22-karat gold traded at Rs 370,062 per tola, 21-karat at Rs 352,188, and 18-karat at Rs 301,875.

Dealers told Dawn that rising international rates and local demand have pushed prices higher across Pakistan’s major cities.

According to the All Pakistan Sarafa Gems and Jewellers Association, the 24-karat gold per tola rose to Rs 403,600, up Rs 5,900 from the previous day.

The price per 10 grams reached Rs 346,021, while per-gram rates stood at Rs 34,602. Similarly, 22-karat gold traded at Rs 370,062 per tola, 21-karat at Rs 352,188, and 18-karat at Rs 301,875.

Impact on the Jewellery Market

The surge in gold rates has led to noticeable shifts in consumer behaviour. Buyers in Karachi, Lahore, and Islamabad are reportedly opting for lighter jewellery or alternative materials to manage costs.

A spokesperson at a leading jewellery chain told Business Recorder that despite higher prices, investor demand remains strong, particularly among those purchasing gold as a financial hedge.

International Bullion Market Trends

Internationally, gold prices continued their upward trajectory. As of September 29, 2025, gold futures opened at $3,788.80 per ounce, up 0.4% from Friday’s close of $3,775.30.

The price of the precious metal moved above $3,800 per ounce during the day, driven by concerns over potential government shutdowns and persistent inflation fears.

Analysts suggest that these factors are prompting investors to seek the safety of gold, pushing prices to new highs.

Outlook and Market Sentiment

Market analysts at Arif Habib Ltd. noted that if global factors, including U.S. monetary policy, oil price fluctuations, and geopolitical tensions, continue to favour precious metals, gold prices in Pakistan may maintain their upward trajectory.

However, sudden corrections in international markets could influence local prices in the short term.

Summary of Gold Prices in Pakistan (Sep 29, 2025):