Karachi, July 23, 2025 – In a dramatic surge, gold prices in Pakistan soared to an all-time high on Wednesday, reaching Rs364,900 per tola in local markets.
This unprecedented spike marks a significant milestone for the precious metal, reflecting both global market volatility and domestic economic pressures.
According to local bullion dealers, gold prices of 24-karat per tola jumped by Rs3,700 from the previous day’s closing rate of Rs361,200, setting a new record. The last time Pakistan witnessed such a peak was on April 22, 2025, when the per tola price touched Rs363,700.
Similarly, the price of 24-karat gold per 10 grams also saw a substantial rise of Rs3,171, climbing to Rs312,671 from Rs309,500 a day earlier. The consistent upward trend has raised concerns among local investors and consumers alike, particularly those involved in jewelry trade and wedding season purchases.
Bullion analysts in Pakistan attribute this steep climb in gold prices to global economic instability, rising inflation, and ongoing geopolitical tensions. The recent spike in international gold rates is believed to be driven by heightened demand for safe-haven assets amidst fears of escalating trade wars and U.S. tariff decisions. On the global front, gold prices increased by $37 per ounce, closing at $3,424, up from the previous day’s $3,387.
Experts note that Pakistan’s currency fluctuation against the U.S. dollar and increasing demand in the local market are further contributing to the surge. With inflation and fiscal uncertainty on the rise, gold has re-emerged as a reliable store of value for investors within the country.
Jewelry retailers and market watchers in Pakistan are advising consumers to make informed decisions and monitor price movements closely. As global economic uncertainties persist, the domestic gold market is expected to remain volatile in the coming weeks, possibly reaching new highs if international conditions remain tense.