Karachi, June 3, 2025 — Gold continued its upward rally in Pakistan on Tuesday, with prices climbing sharply in line with gains in international markets.
The price of 24-karat gold surged by Rs1,000 per Tola, closing at Rs354,100 in the local bullion markets, compared to the previous day’s rate of Rs353,100.
This rise reflects growing demand for the safe-haven asset amid ongoing geopolitical uncertainties and volatile global financial conditions. Analysts noted that the increase in gold prices in Pakistan mirrors movements in the international markets, where spot gold gained $10 to reach $3,357 per ounce from Monday’s close of $3,347.
In tandem with the Tola rate, the prices of 24-karat gold per 10 grams also rose by Rs857, settling at Rs303,583 compared to Rs302,726 in the previous session. The precious metal is once again approaching record highs in the domestic market, having previously touched an all-time high of Rs363,700 per Tola in Pakistan on April 22, 2025.
Experts in the bullion trade attributed the latest rally in gold prices to heightened investor caution. “Ongoing trade tensions, inflationary pressures, and concerns over central bank interest rate policies have kept investors leaning toward safe-haven assets like gold,” said a senior dealer at Karachi’s bullion market.
The recent depreciation of the Pakistani rupee against the US dollar has also played a role in elevating local gold prices. With the fiscal year nearing its end and the federal budget around the corner, uncertainty over tax policies and import duties is contributing to cautious investment behavior in Pakistan.
Demand for physical gold in Pakistan has remained strong, especially in anticipation of Eid-related purchases and as a traditional hedge against inflation.
Looking forward, analysts suggest that if global economic and political instability persists, gold prices in Pakistan could see further upward movement, especially as investors seek refuge from volatile equity markets and currency fluctuations.