Gold prices climbed sharply in Pakistan on February 28, tracking a strong rally in the international market and closing the month on a firm note.
In the local bullion market, the price of 24-karat gold rose by Rs10,000 in a single day. The new rate stood at Rs550,562 per tola, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association.
The price of 10 grams of gold also moved up. It was sold at Rs472,018 after gaining Rs8,574 during the day.
Just a day earlier, on February 27, the per tola rate had remained unchanged at Rs540,562. The fresh increase has pushed prices to one of their highest levels this month.
Global surge lifts local market
Traders linked the latest rise to gains in the international market. The global price of gold increased by $100, reaching $5,278 per ounce. The rate included a premium of $20.
When international prices rise, local rates usually follow the same direction, as Pakistan imports gold and prices are adjusted in line with global trends and the rupee-dollar parity.
Silver prices also moved higher on February 28. The per tola rate of silver increased by Rs388, settling at Rs9,862.
Here is how gold prices performed in Pakistan during each trading day of February:
| Date | Price per tola (Rs) | Change (Rs) | Trend |
| February 2 | 490,362 | -21,500 | Decrease |
| February 3 | 514,362 | +24,000 | Increase |
| February 4 | 529,162 | +14,800 | Increase |
| February 6 | 507,762 | -21,400 | Decrease |
| February 7 | 519,462 | +11,700 | Increase |
| February 9 | 524,762 | +5,300 | Increase |
| February 10 | 526,262 | +1,500 | Increase |
| February 11 | 528,562 | +2,300 | Increase |
| February 12 | 528,562 | 0 | Stable |
| February 13 | 519,962 | -8,600 | Decrease |
| February 14 | 526,962 | +7,000 | Increase |
| February 16 | 523,762 | -3,200 | Decrease |
| February 17 | 514,762 | -9,000 | Decrease |
| February 18 | 516,062 | +1,300 | Increase |
| February 19 | 523,962 | +7,900 | Increase |
| February 20 | 526,462 | +2,500 | Increase |
| February 21 | 533,562 | +7,100 | Increase |
| February 23 | 536,562 | +3,000 | Increase |
| February 24 | 539,962 | +3,400 | Increase |
| February 25 | 541,262 | +1,300 | Increase |
| February 26 | 540,562 | -700 | Decrease |
| February 27 | 540,562 | 0 | Stable |
| February 28 | 550,562 | +10,000 | Increase |
A month of sharp swings
February 2026 has been a volatile month for gold buyers and investors.
The month began on a weak note. On February 2, the per tola price fell sharply to Rs490,362 after a drop of Rs21,500 in a single day. However, the market quickly turned around. By February 3, gold surged by Rs24,000 to reach Rs514,362.
Another notable jump came on February 4, when prices climbed by Rs14,800 to Rs529,162 per tola.
The first half of the month saw both steep gains and sudden falls. On February 6, gold dropped by Rs21,400 to Rs507,762. A day later, on February 7, it rebounded strongly, gaining Rs11,700 to close at Rs519,462.
Mid-month trading remained uneven. On February 13, prices declined by Rs8,600 to Rs519,962. The very next day, February 14, the market recovered with a Rs7,000 increase, taking the rate to Rs526,962.
One of the sharpest single-day declines came on February 17, when gold fell by Rs9,000 to Rs514,762. But the slide did not last long. From February 18 onwards, the market largely stayed on an upward path.
Between February 18 and February 21, gold recorded steady gains, moving from Rs516,062 to Rs533,562 per tola. The upward trend continued through February 23 and February 24, with prices reaching Rs539,962.
On February 25, gold edged up further to Rs541,262. A slight dip of Rs700 was seen on February 26, bringing the rate down to Rs540,562. February 27 remained flat, before the strong jump on February 28 lifted the market to Rs550,562.
Jewellers say frequent price changes have kept buyers cautious. Many customers are waiting for stability before making wedding or investment purchases.
For investors, however, the rising trend is being seen as a sign of strength in the precious metals market. With global prices moving up sharply at the end of the month, traders expect the local market to remain sensitive to international developments in the coming days.
