Gold moves further out of reach in Pakistan after fresh price increase

Gold prices jumped sharply on Saturday, pushing the cost of the precious metal to a level many buyers now call ‘out of reach’.

According to local market rates, the price of gold increased by Rs5,300 in one day, closing at Rs444,162 per tola. The rise follows a quieter spell earlier in the week when prices stayed unchanged for three consecutive days, giving customers and traders a brief breather. But the calm did not last.

A Rs15,300 per tola gain in a week

In the past six sessions, gold has moved up on three days and held its ground on the other three, taking the total weekly gain to Rs15,300. The metal’s climb marks a notable change from last week’s Saturday rate of Rs428,862 per tola, recorded on November 22, highlighting a difference of more than Rs15,000 in just seven days.

Sales counters across major cities saw thin crowds for gold ornaments, with shop owners saying most visitors were there “to ask the rate, not to buy”. Investors, however, appeared more active, focusing on bars and coins rather than jewellery.

The All-Pakistan Gems and Jewellers Sarafa Association reported that the price of 10 grams of 24k gold also went up by Rs4,544, settling at Rs380,797. On Friday, the per-tola rate had stayed fixed at Rs438,862 for a second straight day before Saturday’s surge brought fresh momentum.

Global cues remain strong

Internationally, gold gained $53 to reach $4,218 per ounce, carrying an added premium of $20. Bullion traders linked the rise to increased safe-haven buying as global markets responded to economic signals and currency pressures throughout the region.

Silver mirrored the rally, climbing Rs267 to trade at Rs5,909 per tola. Dealers said demand for silver utensils and investment-grade bricks showed a mild uptick, though not as strong as the interest in gold.