Gold prices in Pakistan soared to a record level on Wednesday, marking one of the sharpest single-day increases in recent months.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola surged by Rs. 8,400, reaching an unprecedented Rs. 425,178. Similarly, the rate for 10 grams of 24-karat gold rose by Rs. 7,202 to stand at Rs. 364,521.
Meanwhile, 22-karat gold was being sold at Rs. 334,156 per 10 grams, reflecting the upward movement across all purity levels.
The rise comes amid continued fluctuations in the global gold market, where international prices jumped by $84 per ounce, settling at $4,039. Analysts link this surge to heightened global demand and uncertainty in financial markets, which often drives investors toward gold as a safe-haven asset.
Jewellers in major cities such as Karachi, Lahore, and Islamabad reported increased activity from both buyers and investors, though retail demand for jewellery remains moderate due to high prices.
Industry experts believe that the recent trend could continue if the rupee weakens further or if international prices remain firm.
Silver prices also climbed, with the per tola rate increasing by Rs. 55 to reach Rs. 4,984, while 10 grams of silver rose proportionally.
The consistent upward movement in both gold and silver reflects broader market trends, with precious metals maintaining their appeal as stable investments.
Market observers suggest that while the surge benefits investors, it also poses challenges for those planning weddings or purchasing jewellery ahead of the winter season.
