KARACHI, Pakistan — Gold prices in Pakistan have soared to unprecedented levels, with both the 10‑gram and one‑tola rates reaching record highs, as local markets react to nil imports and strong international demand. The surge highlights the impact of restricted supply and reflects broader global trends in the precious metals sector.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of gold climbed to Rs407,803, while a one‑tola bar reached Rs475,662, marking historic domestic rates. Market analysts say the rise is driven not only by global bullion trends but also by the absence of significant gold imports between June and November, which has tightened local supply for jewellery production and trading.
Experts point out that international gold markets continue to trade at elevated levels, with investors seeking safe-haven assets amid global economic uncertainty and financial volatility. Pakistan’s domestic gold market closely mirrors these international trends, and limited import flows have further intensified the price rally.
The situation is also linked to policy changes regarding gold imports. Earlier this year, restrictions on imports were suspended due to smuggling concerns, but following regulatory adjustments and months of reduced supply, imports remained minimal, pushing domestic prices higher. The federal government has recently restored trade rules, but the market continues to adjust to supply constraints and heightened demand.
Investors are increasingly turning to gold as a hedge against currency fluctuations and inflation, and the current rally has delivered strong returns compared to other major asset classes, including equities and bonds. While the record highs are attracting attention, analysts caution that prices could correct if imports resume in large volumes, global bullion rates stabilise, or macroeconomic conditions shift.
With demand remaining robust and supply limited, the gold market in Pakistan is poised for continued attention, as consumers, traders, and investors navigate historic highs in domestic gold prices and weigh their options amid a dynamic financial landscape.
This story has been reported by PakTribune. All rights reserved.