The price of gold in Pakistan has reached a historic high of Rs. 299,600/tola in line with a global surge in bullion prices.
In the global market, price of gold surged by $53 to $2,863/ounce on reports of central banks continuing a buying spree. The development has also been linked to investors turning to gold as a safe haven asset following China’s imposition of retaliatory tariffs on U.S. imports.
In Pakistan, the price of gold has increased by Rs. 5,300/tola to Rs. 299,600/tola, or $1,070. One tola is approximately equal to 0.44 ounces. In the open market, this rate has climbed further with gold selling for Rs. 5,000-7,000 above the Rs. 299,600 rate.
The price of 24-karat gold/10 grams has risen by Rs. 4,158 to Rs. 256,859 in Pakistan’s domestic market. Since the start of 2025, the overall price of gold has increased by Rs. 27,000/tola.
Global demand for gold reached an all-time high in 2024, driven by robust central bank purchases and increased investment demand, according to the World Gold Council’s annual report. It highlighted that overall investment demand was anticipated to remain healthy throughout 2025, as lower interest rates would reduce the opportunity costs of holding gold.
Total gold transactions amounted to 4,974 tons in 2024, up from 4,899 tons in 2023, including over-the-counter investments.