Karachi, January 29, 2026 — Gold prices in Pakistan staged a historic surge on Thursday, smashing all previous records as rates soared to Rs572,862 per tola, marking the largest single-day jump ever recorded in the domestic bullion market.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold per tola leapt by a massive Rs21,200 in just one session, climbing from Rs551,662 to an unprecedented high of Rs572,862. The rally sent shockwaves through local markets, leaving investors and traders stunned by the sheer pace of the increase.
The surge was equally dramatic in the 10-gram segment. Prices of 24-karat gold per 10 grams surged by Rs18,125, reaching Rs491,136, compared to the previous day’s closing of Rs472,961. Dealers reported frantic buying activity as investors rushed to hedge against growing global uncertainty.
Bullion market experts attributed Pakistan’s explosive gold rally to a powerful upswing in international markets, driven by escalating geopolitical tensions. Analysts pointed to deteriorating global sentiment, particularly after fresh warnings of potential attacks on Iran by the US president, which rattled financial markets and intensified safe-haven demand for gold.
Reflecting the global turmoil, gold prices in the international market also soared to a historic peak of $5,505 per ounce, registering a sharp $212 gain from the previous close of $5,293. Experts warn that if geopolitical risks persist, gold prices could remain highly volatile, keeping Pakistan’s bullion market on edge in the days ahead.