KARACHI: The 10-gram and one-tola (24 karat) gold rates hit an all-time high of Rs396,400 and Rs462,362 after surging by Rs5,315 and Rs6,200, respectively.

The previous peak of Rs391,718 and Rs456,900 was recorded on Oct 17. All Pakistan Sarafa Gems and Jewellers Association (APSGJA) quoted the world gold jumped by $62 to $4,400 per ounce, which is also a record.

On Jan 1, the 10-gram and one-tola gold rates were Rs234,568 and Rs273,600 based on the global gold rate of $2,624 per ounce. Till to date, the price of 10-gram and one-tola have surged by Rs161,794 and Rs188,762, respectively, while international price has risen by $1,776 per ounce.

APSGJA President Qasim Shikarpuri said that another reason for soaring world prices is heavy buying by the central banks around the globe.

He said investors all over the world are lifting gold while in Pakistan most of the investors are procuring 10-tola gold bars.

“I think the gold markets have hardly 15pc gold jewellery buyers while other buyers failing to afford the yellow metal are under tremendous pressure due to rising cost of living and high utility bills, especially power bills,” Shikarpuri said.

Due to depressed sales, gold traders are finding it hard to manage their electricity bills and workers’ salary, he said, adding that people are bringing up their old jewellery sets but unfortunately they prefer selling out and getting cash to meet some other daily requirements.

The APSGJA president said that silver rate also hit an all-time high on Monday, reaching to Rs6,177 per 10 grams and Rs7,205 per tola (24kt), a jump of Rs187 and Rs218 while world silver price clocked in at $69.30 per ounce. On Jan 1, the 10-gram and one-tola rates were Rs2,872 and Rs3,350.

Published in Dawn, December 23rd, 2025