Gold prices in Pakistan surged to a new record high on Friday, extending a sharp upward trend that has left buyers and traders stunned. After a brief pause a day earlier, the rally resumed with fresh momentum, pushing rates to levels rarely seen in the local market.
According to the All Pakistan Gems and Jewellers Association, the price of 24 karat gold jumped by Rs9,100 per tola to reach Rs514,662. This marks one of the strongest single-day increases so far this year. Since the start of January 2026, gold prices have climbed by more than Rs50,000 per tola, making the precious metal increasingly out of reach for many households.
The price of 22 karat gold was recorded at Rs404,483 per ten gramme in the local market.
Traders said the steady rise has changed buying behaviour, with many consumers delaying purchases in the hope of a pullback. However, repeated record highs have kept uncertainty alive, especially ahead of the wedding season.
Silver prices also moved higher. The rate of 24 karat silver rose by Rs372 per tola to Rs10,275, while another quoted rate stood at Rs8,809 per tola after an increase of Rs319. Silver has followed gold’s broader direction, though its gains have been less dramatic.
The surge came a day after gold prices edged lower in Pakistan. On Thursday, rates dipped slightly as easing global tensions and a stronger dollar weighed on the market. The decline proved short lived, as international prices quickly regained strength.
Gold rate in global market
In the global market, gold touched another all-time high on Friday before trimming some gains. Spot gold slipped 0.4 percent to $4,917.37 per ounce by 0851 GMT after hitting a record $4,967.03 earlier in the session. Prices are up about 14 percent in less than a month in 2026. US gold futures for February delivery added 0.2 percent to $4,921.70 per ounce.
Analysts say the rally has been driven by strong central bank buying and rising investor interest in exchange traded funds. Gold is increasingly seen as a safe option amid geopolitical tensions and economic uncertainty. Expectations of US rate cuts later in 2026 have also added to gold’s appeal, even as the Federal Reserve is expected to keep rates unchanged at its January 27 to 28 meeting.
Gold price in Pakistan since start of 2026
| Date | Change | Gold price (per tola) |
| January 23, 2026 | Increased Rs9,100 | Rs514,662 |
| January 22, 2026 | Decreased Rs800 | Rs505,562 |
| January 21, 2026 | Increased Rs12,700 | Rs506,362 |
| January 20, 2026 | Increased Rs4,300 | Rs493,662 |
| January 19, 2026 | Increased Rs7,500 | Rs489,362 |
| January 17, 2026 | Decreased Rs600 | Rs481,862 |
| January 16, 2026 | No change | Rs482,462 |
| January 15, 2026 | Decreased Rs3,700 | Rs482,462 |
| January 14, 2026 | Increased Rs4,300 | Rs486,162 |
| January 13, 2026 | Increased Rs900 | Rs481,862 |
| January 12, 2026 | Increased Rs7,700 | Rs480,962 |
| January 10, 2026 | Increased Rs3,700 | Rs473,262 |
| January 9, 2026 | Increased Rs3,400 | Rs469,562 |
| January 8, 2026 | Decreased Rs600 | Rs466,162 |
| January 7, 2026 | Decreased Rs1,200 | Rs466,762 |
| January 6, 2026 | Increased Rs3,200 | Rs467,962 |
| January 5, 2026 | Increased Rs9,200 | Rs464,762 |
| January 3, 2026 | Decreased Rs4,700 | Rs455,562 |
| January 2, 2026 | Increased Rs5,700 | Rs460,262 |
| January 1, 2026 | Decreased Rs2,400 | Rs454,562 |
