Gold price in Pakistan surged significantly on Monday, reflecting both strong international bullion markets and rising geopolitical tensions that have intensified global demand for safe-haven assets. According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the domestic bullion market witnessed one of its strongest daily increases in recent weeks.
The price of 24-karat gold per tola climbed to Rs464,762, registering a sharp day-on-day increase of Rs9,200. Meanwhile, 24-karat gold per 10 grams rose to Rs398,458, up by Rs7,888, underscoring the strong momentum across Pakistan’s precious metals market.
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Gold Price in Pakistan: Domestic Market Performance Explained
The rally was not limited to 24-karat gold alone. 22-karat gold also followed the upward trend, trading at Rs365,266 per 10 grams, reflecting sustained retail and investment demand.
On a broader performance basis, gold prices in Pakistan have gained Rs22,600 over the past month, while fiscal year-to-date gains stand at Rs114,562 per tola, highlighting gold’s continued appeal as an inflation hedge and store of value amid economic uncertainty.
Silver Prices Follow Gold Higher in Pakistan
Silver also recorded notable gains in the local market, tracking global strength across the precious metals complex. 24-karat silver per tola increased to Rs8,023, up Rs267, while 10-gram silver prices rose to Rs6,878, gaining Rs229 in a single session.
Month-to-date and fiscal year-to-date figures show silver outperforming many traditional asset classes, reflecting growing industrial demand and speculative interest.
Global Gold Prices Drive Gold Price in Pakistan Higher
Internationally, spot gold traded near $4,420 per ounce, rising over 1% in a single session. Prices later climbed further to $4,433.54 per ounce, following the news that the United States had reportedly captured Venezuelan President Nicolás Maduro, triggering fresh geopolitical uncertainty.
This development intensified risk-averse sentiment across financial markets, prompting investors to rotate into gold and other defensive assets.
Geopolitical Risk and Interest Rate Expectations Fuel Rally
According to Tim Waterer, Chief Market Analyst at KCM Trade, renewed turmoil in Venezuela has significantly strengthened demand for defensive assets such as gold and silver. He noted that escalating geopolitical risks tend to amplify inflows into precious metals, especially when paired with expectations of looser monetary policy.
Gold’s current rally builds on an extraordinary performance last year, when bullion prices surged 64%, marking the strongest annual gain since 1979. Support has come from aggressive global rate cuts, heavy central-bank buying, and strong inflows into gold-backed exchange-traded funds (ETFs).
Gold prices reached a record high of $4,549.71 on December 26, 2025, reinforcing long-term bullish sentiment.
Silver, Platinum, and Palladium Extend Gains
Silver continued to outperform, with spot prices jumping 4.4% to $75.82 per ounce. The metal had already reached an all-time high of $83.62 in late December and ended last year up an extraordinary 147%, its strongest annual gain on record.
The rally has been fueled by tight supply conditions, strong industrial demand, rising investor interest, and silver’s designation as a critical mineral in the United States.
Other precious metals also advanced, with platinum rising to $2,190.55 per ounce and palladium climbing to $1,667.45, reflecting broad-based strength across the sector.
Outlook: What’s Next for Gold Price in Pakistan?
Looking ahead, analysts believe the gold price in Pakistan will remain sensitive to global geopolitical developments, U.S. Federal Reserve policy expectations, and currency movements. While some policymakers caution that further rate cuts may not come quickly, markets continue to price in at least two U.S. rate cuts this year, which could further support bullion prices.
In an environment marked by uncertainty, gold and silver are likely to remain key hedging instruments for both institutional and retail investors in Pakistan.