Gold prices jump above Rs550,000 per tola for first time in Pakistan amid global rally

KARACHI: Gold and Silver prices surged to an all-time high in Pakistan on Wednesday, January 28, in line with a sharp rally in the international bullion market, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The price of 24-karat gold per tola jumped by Rs21,100 to settle at Rs551,662.

Similarly, the price of 10 grams of 24-karat gold rose by Rs18,090 to Rs472,961, while 10 grams of 22-karat gold increased by Rs16,583 to Rs433,563.

Silver prices also recorded gains. The price of 24-karat silver per tola increased by Rs271 to Rs11,911, whereas 10 grams of silver rose by Rs232 to Rs10,211.

In the international market, gold prices climbed by $211 to reach a fresh record of $5,293 per ounce, while silver prices rose by $2.71 to $114.36 per ounce, the association reported.

Market analysts said the outlook for gold remains positive amid persistent global economic uncertainty and strong investor demand for safe-haven assets.

They noted that gold’s intrinsic value, limited supply, and independence from government and central bank policies continue to make it an effective hedge against inflation, currency depreciation, and economic instability.

Analysts added that geopolitical tensions — including wars, trade disputes, and market volatility — often drive investors away from riskier assets such as equities and speculative currencies toward the relative stability of bullion, supporting gold prices even during periods of broader economic stress.

Gold has long been regarded as a symbol of wealth and prosperity. Beyond its ornamental value, it has historically served as a safe-haven asset, offering protection to investors during times of economic uncertainty, geopolitical tensions, and market turbulence.

In recent years, gold’s status as a safe haven has been reaffirmed, as both institutional and retail investors seek shelter from ongoing global economic and political instability.