Gold rates jump to all time high, new rates inside

KARACHI: Gold rates in Pakistan surged to an all-time high on Wednesday, following a historic rally in the international market. The precious metal broke the $4,000-per-ounce level for the first time in history.

According to rates provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the cost of gold per tola in the domestic market increased by Rs8,400 to close at Rs425,178. Likewise, the price of 10 grams of gold went up by Rs7,202 to reach Rs364,521.

The strong hike came after Tuesday’s increase, when the per tola price had closed at Rs416,778 after increasing by Rs1,500.

Globally, gold remained on a record-breaking ride, rising 1.2 percent to $4,032.46 per ounce at 6:53 GMT. US December gold futures rose 1.3 percent to $4,054.80.

According to APGJSA, the international rate was at $4,039 per ounce with a $20 premium, which added $84 to the day’s rise. Silver also strengthened, rising Rs55 per tola in the domestic market to Rs4,984, and overseas silver prices went up by 2 percent to $48.76 per ounce.

The analysts blame the international gold rally on a combination of economic uncertainty, geopolitical risk, and anticipation of cuts in US interest rates. The prolonged US government shutdown and international conflicts, such as the conflict in Ukraine and unrest in the Middle East, have also urged investors to further turn to 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.”

Spot gold has risen around 54 percent this year to date, placing it among the top-performing assets in 2025. Its increase has surpassed gains on international equities and cryptocurrencies while counteracting the US dollar and oil price weakness.

Analysts say strong central bank buying, inflows to gold exchange-traded funds, and a declining dollar have all driven the metal’s spectacular run.

In Pakistan, gold has remained in a solid trend of increase during October. On October 1, it was selling at Rs410,278 per tola, and after a slight movement during the initial week, the price breached Rs425,000 on October 8.

With local prices closely following the international market, jewellers anticipate more volatility in the days to come as global investors remain sensitive to changing economic signals and political events.