Gold prices in Pakistan touched an all-time high on Wednesday, with 24-karat gold trading at Rs 461,300 per tola and Rs 395,500 per 10 grams. The massive surge follows similar movements in the global market, where gold prices climbed close to $4,217 per ounce as investors rushed toward safe-haven assets amid growing global uncertainty.
Market experts say the jump is mainly driven by international inflation fears, weakening currencies, and speculation that major central banks may soon reduce interest rates. A Karachi-based bullion trader said that when the U.S. dollar weakens, investors naturally shift to gold to protect their wealth from inflation, and that international trends are directly impacting Pakistan’s local rates. The sharp depreciation of the Pakistani rupee has also played a major role, pushing import costs higher and driving gold to record levels in Karachi, Lahore, and Islamabad.
The sudden spike has left jewelry markets quiet, as middle-income buyers struggle to cope with rising costs ahead of the wedding season. A trader from Lahore’s Liberty Market noted that sales have dropped sharply over the past few weeks and many customers are now waiting for prices to stabilize before making purchases. Meanwhile, investors who have held gold in recent months are seeing major gains in their portfolios, benefiting from the ongoing rally.
In the global context, financial analysts point out that gold continues to strengthen as uncertainty builds around economic recovery, geopolitical conflicts, and central bank policies. Reports from Reuters suggest that international investors are increasingly treating gold as a safe alternative to volatile currencies and equities. Even major institutions like JPMorgan have hinted that gold could potentially reach between $5,000 and $10,000 per ounce if the current momentum continues.
As of today, the 24-karat gold rate in Pakistan stands at Rs 461,300 per tola and Rs 395,500 per 10 grams, while 22-karat gold hovers around Rs 422,000 per tola. Market watchers expect volatility to persist in the coming weeks as global and domestic economic conditions evolve. For now, gold remains the one asset shining brighter than ever — a safe haven for investors, but a growing concern for consumers.
