Karachi, January 5, 2026 — Gold prices in Pakistan registered a sharp spike on Monday, jumping by Rs9,200 per tola, as heightened uncertainty in international markets fueled strong demand for the safe-haven asset.
According to the All Pakistan Sarafa Gems and Jewelers Association (APSGJA), the price of 24-karat gold per tola rose to Rs464,762, up from the previous closing of Rs455,662 in the local bullion markets. Despite the latest surge, prices remain below the all-time high of Rs475,662 per tola, recorded on December 27, 2025.
Similarly, the price of 24-karat gold per 10 grams increased by Rs7,888, reaching Rs398,458 compared to the previous session. Market participants noted that the ongoing volatility has kept buyers active, as investors seek to hedge against geopolitical and economic risks.
Bullion market analysts attributed the steep rise in domestic gold prices primarily to global market instability. The recent US military action against Venezuela sent shockwaves through international financial markets, intensifying concerns over geopolitical tensions. In addition, persistent global trade disputes and uncertainty surrounding major economies have further contributed to fluctuations in gold prices worldwide.
On the international front, gold prices surged by $92 per ounce, closing at $4,424, compared to the previous closing of $4,332. The upward momentum in global gold prices was quickly reflected in Pakistan’s local markets, where prices closely track international trends and currency movements.
Experts believe that gold prices may remain volatile in the near term, with global political developments and economic data likely to play a decisive role in shaping market direction.