Gold prices in Pakistan have reached a new all-time high, with 24-karat gold now at Rs506,362 per tola on Wednesday. This marks a sharp daily increase of Rs12,700, driven by a strong rise in global rates.
Gold prices in Pakistan climbed to an unprecedented level on Wednesday, January 21, 2026, as the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported 24-karat gold at Rs506,362 per tola. This represents a jump of Rs12,700 from the previous day’s closing rate.
The surge followed a $127 per ounce increase in the international market, where gold reached $4,840 per ounce. Local rates for 10 grams of 24-karat gold rose to Rs434,123, up Rs10,888 in a single day.
Since the start of the year, gold has shown remarkable gains. One tola has increased by around Rs232,762, while 10 grams have risen by about Rs199,555. These figures align with the international price climbing over $2,200 per ounce in the same period.
Investors have been the main force behind this upward movement, treating gold as a reliable asset compared to stocks and other options. Jewellery demand remains steady but faces challenges from the high costs, especially during the ongoing wedding season.
APSGJA President Qasim Shikarpuri explained that local jewellers were selling gold at Rs503,000 to Rs505,500 per tola, slightly below the official association rate. He attributed the gap to normal differences in demand and supply dynamics.
Also Read: International Slide Pulls Down Pakistan Gold Prices
“Investors are leading the current rally, not jewellery buyers,” Shikarpuri said. He added that despite the record levels, gold remains available in the local market and is still about Rs25,000 cheaper per tola than in Dubai.
Silver Prices Also Climb on Supply Issues
Silver followed a similar trend, with one tola reaching Rs9,933 and 10 grams at Rs8,515. The global silver price stood at $94.58 per ounce. Shikarpuri pointed to a shortage in supply as a key reason for the local push, with some rates going as high as Rs13,500 to Rs14,500 per tola in certain areas.
