Gold prices in Pakistan skyrocketed to an all-time high on Wednesday, marking one of the sharpest single-day jumps in recent months.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold surged by Rs. 8,400 per tola, reaching a record Rs. 425,178. Likewise, the rate for 10 grams of 24-karat gold rose by Rs. 7,202, settling at Rs. 364,521.
Meanwhile, 22-karat gold was priced at Rs. 334,156 per 10 grams, showing a consistent upward trend across all purity levels.
The spike follows strong movements in the global gold market, where international prices increased by $84 per ounce, reaching $4,039. Analysts attribute this surge to growing global demand and financial market uncertainty — factors that typically push investors toward gold as a safe-haven asset.
Jewellers in major cities such as Karachi, Lahore, and Islamabad reported heightened activity from both investors and traders, although retail jewellery demand remains subdued due to soaring prices.
Industry experts suggest the upward trend could persist if the rupee weakens further or international rates stay elevated.
Silver prices also saw an increase, with the per tola rate rising by Rs. 55 to Rs. 4,984, while 10 grams of silver climbed proportionally.
The continued rise in both gold and silver reflects a broader market shift, with precious metals retaining their reputation as reliable investment assets.
Market observers note that while the surge benefits investors, it also creates challenges for those planning weddings or jewellery purchases ahead of the winter season.
