ISLAMABAD; Gold prices in Pakistan soared to an unprecedented level on Friday, crossing Rs450,000 per tola, as the local bullion market mirrored the surge in global prices and the ongoing depreciation of the Pakistani rupee.
According to data released by the All Pakistan Gems and Jewellers Association (APGJA), the price of gold per tola increased by Rs14,100 in a single day, reaching a historic Rs456,900.
Similarly, the price of 10 grams of gold rose by Rs12,089, settling at Rs391,718 — both marking the highest levels ever recorded in the country’s history.
The spike in domestic prices coincided with a rally in international bullion markets, where gold crossed $4,300 per ounce for the first time on Friday.
Analysts attribute the global surge to heightened geopolitical tensions, aggressive central bank buying, and expectations of further monetary easing in key economies, which have boosted the metal’s safe-haven appeal.
In Pakistan, the rally has been amplified by persistent currency depreciation, rising inflation, and declining confidence in other asset classes, prompting investors to shift their savings towards gold as a hedge. Economic uncertainty, weak foreign exchange reserves, and speculation over further rupee depreciation have also intensified demand in the local market.
Meanwhile, silver prices also climbed sharply. Per tola price of silver gained Rs167 to settle at an all-time high of Rs5,504.
Gold dealers expect volatility to continue, warning that if the rupee slides further or global prices sustain their upward trajectory, local rates may surge even higher in the coming days.
