Karachi: The shine of gold just got a lot more expensive in Pakistan. In yet another upward swing, domestic gold prices have surged sharply, leaving both investors and everyday buyers re-evaluating their plans.
According to the All Pakistan Sarafa Jewellers Association, the price of 24-karat gold has jumped by Rs. 1,000 per tola, pushing the latest market rate to a record Rs. 361,700. Likewise, 10 grams of gold now costs Rs. 310,099, reflecting a Rs. 857 increase.
This fresh spike is being driven by a mix of global market volatility, local currency depreciation, and a resurgence in safe-haven buying as economic uncertainty continues to loom.
Jewellers report quieter showrooms as potential buyers, particularly those preparing for weddings or long-term investments, are forced to reconsider. “People are walking in, asking for rates, and walking out empty-handed,” said one Karachi-based jeweller. “This isn’t the gold rush we wanted.”
Analysts warn that unless the rupee stabilizes and global bullion prices ease, this upward momentum may continue — keeping gold well out of reach for the average household.
