Karachi, January 26, 2026 — Pakistan’s gold market witnessed a historic surge on Monday, as prices soared to an all-time high of Rs532,065 per tola, extending a powerful rally driven by unprecedented gains in the international bullion markets.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola jumped by Rs10,900, rising from Saturday’s closing level of Rs531,162 to a new historic peak. Similarly, the price of 24-karat gold per 10 grams climbed by Rs9,345, reaching Rs456,157, compared to the previous closing of Rs446,812 in local markets.
Bullion market analysts attributed the sharp increase in domestic gold prices to a record-breaking rally in global gold markets, where investors are aggressively shifting funds toward safe-haven assets. Growing geopolitical tensions and heightened economic uncertainty have significantly boosted demand for gold worldwide.
Experts noted that the latest trigger behind the surge is a deepening crisis of confidence in the US administration and American financial assets, sparked by erratic policy decisions from the Trump administration last week. Analysts highlighted concerns following abrupt reversals on proposed tariffs against European allies, along with fresh threats to impose 200 percent tariffs on French wines and champagnes.
Market observers also expressed apprehension over Washington’s proposed “Board of Peace” initiative, which some fear could weaken the United Nations’ traditional role in global conflict resolution. Although US officials have stated the initiative would work alongside the UN, uncertainty has rattled investors.
As a result, global gold prices surged to a historic high of $5,097 per ounce, up $109 from the previous close of $4,988, reinforcing gold’s status as the ultimate hedge amid global instability.