KARACHI: Gold prices in Pakistan surged to new all-time highs on Wednesday, continuing the upward trend in the global market. The price of 10 grams of 24kt gold reached Rs322,959, while one tola of the precious metal soared to Rs376,700, marking an increase of Rs5,144 and Rs6,000, respectively, compared to Tuesday’s rates.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the previous record for 10 grams and one tola was set on September 1, 2024, when prices hit Rs317,815 and Rs370,800, respectively, based on a world gold price of $3,480 per ounce. On Wednesday, the global gold price stood at $3,540 per ounce, reflecting a $60 per ounce increase from the previous day.
Mohammad Qasim Shikarpuri, President of APSGJA, attributed the rising trend in global gold prices to uncertainty surrounding potential interest rate cuts by the US Federal Reserve and strong investor demand.
He also pointed to silver’s increasing role in supporting gold prices, noting that gold had previously faced pressure due to geopolitical tensions, including the Ukraine-Russia conflict, the Israel-Gaza war, and US tariffs.
The prices of silver have also increased. The cost of 10 grams of 24kt silver reached Rs3,699, while one-tola is priced at Rs4,315, reflecting an increase of Rs10 and Rs12 from Tuesday’s rates. The international price of silver stands at $4,082 per ounce.
Published in Dawn, September 4th, 2025
