Karachi: Gold prices witnessed a significant increase across Pakistan on Thursday, with the price of 24-karat gold rising by Rs3,600 per tola, driven by a sharp rally in the international bullion market. The latest increase has pushed domestic gold prices to another record level, reflecting the continued impact of global economic uncertainty and strong investor demand for the precious metal.
According to the All Pakistan Gems and Jewellers Association (APGJA), the price of one tola of 24-karat gold increased by Rs3,600, taking the new price to Rs433,836.
The association also reported that the price of 10 grams of 24-karat gold rose by Rs3,086, reaching Rs371,944 across the country.
Market analysts said the increase in domestic gold prices follows a strong upward movement in international bullion rates. On the global market, the price of gold climbed by $36 per ounce, reaching $4,113 per ounce.
The rise in international prices has been attributed to increasing demand for gold as a safe-haven asset amid geopolitical tensions, uncertainty in global financial markets, and expectations regarding interest rate policies by major central banks. Investors typically shift toward gold during periods of economic instability, resulting in higher global prices that directly influence local markets.
Pakistan’s gold market is closely linked with international bullion rates and the value of the Pakistani rupee against the U.S. dollar. Whenever global prices increase or the local currency weakens, domestic gold prices generally follow the same trend. Dealers said the latest increase reflects international market conditions rather than changes in local demand.
Jewellers in major cities, including Karachi, Lahore, Islamabad, and Peshawar, said the sharp increase may temporarily reduce retail buying, particularly for jewellery. Many consumers postpone purchases when prices rise rapidly, especially during periods of economic pressure.
Despite slower retail demand, bullion traders believe investment demand for gold remains strong. Many investors continue to purchase gold as a long-term store of value to protect their savings against inflation and currency fluctuations. Financial experts note that gold has traditionally been considered one of the safest investment options during uncertain economic conditions.
The jewellery industry has experienced repeated price fluctuations over the past several months as international bullion markets have remained volatile. Traders say prices are likely to continue changing in line with global economic developments, central bank decisions, and geopolitical events affecting investor sentiment.
Gold dealers advised customers planning to buy jewellery for weddings or other occasions to monitor market trends closely before making large purchases. They also suggested that investors should consider long-term market conditions rather than reacting to short-term price movements.
Meanwhile, market participants are closely watching international economic indicators that could influence future gold prices. Any further increase in global demand or escalation in geopolitical tensions could push bullion prices even higher, while signs of economic stability or changes in monetary policy could moderate the upward trend.
The All Pakistan Gems and Jewellers Association said it will continue to update domestic gold rates in accordance with international market movements, ensuring that local prices accurately reflect global bullion values.
With gold now trading at Rs433,836 per tola and Rs371,944 per 10 grams, Pakistan’s bullion market remains heavily influenced by developments in the international economy, highlighting the strong connection between global financial trends and local commodity prices.
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