Gold price jumps over Rs8,000 per tola to hit new peak in Pakistan

Gold prices in Pakistan jumped to another record high on Wednesday, mirroring a historic rally in the international market where the precious metal breached the $4,000-per-ounce mark for the first time ever.

According to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market surged by Rs8,400, settling at Rs425,178. Similarly, the rate for 10 grammes of gold rose by Rs7,202 to reach Rs364,521.

The sharp increase followed Tuesday’s gain, when the per tola price had closed at Rs416,778 after a rise of Rs1,500.

Global rally pushes gold past $4,000

Internationally, gold continued its record-breaking rally, jumping 1.2 percent to $4,032.46 per ounce by 6:53 GMT. US gold futures for December delivery also climbed 1.3 percent to $4,054.80.

As per APGJSA, the global rate stood at $4,039 per ounce with a $20 premium, marking an $84 increase during the day. Silver too gained strength, climbing Rs55 per tola in the local market to reach Rs4,984, while international silver prices rose 2 percent to $48.76 per ounce.

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Analysts attribute the global gold surge to a mix of economic uncertainty, geopolitical tensions, and expectations of US interest rate cuts. The ongoing US government shutdown and global conflicts, including the war in Ukraine and turmoil in the Middle East, have further spurred investors to seek refuge in bullion.

“Background factors remain much the same as before, with persistent geopolitical uncertainty and the added risk of a government shutdown,” said Rhona O’Connell, a senior analyst at StoneX. “There’s a growing tendency for investors to manage risk through gold.”

Gold shines as top-performing asset in 2025

Spot gold has climbed about 54 percent so far this year, making it one of the best-performing assets of 2025. Its rise has outpaced gains in global equities and cryptocurrencies while offsetting the weakness of the US dollar and oil prices.

According to analysts, robust central bank purchases, inflows into gold exchange-traded funds, and a weakening dollar have all contributed to the metal’s exceptional run.

Gold’s journey in Pakistan this month

In Pakistan, gold has been on a steady upward trajectory throughout October. On October 1, it traded at Rs410,278 per tola, and after minor fluctuations during the first week, the price broke through Rs425,000 on October 8.

With local prices closely tracking the international market, jewellers expect further volatility in the coming days as global investors continue to react to shifting economic cues and political developments.

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