Gold jumps Rs6,900 per tola in Pakistan as global bullion rallies

Gold prices climbed sharply in Pakistan on Friday, September 18, with the price of 24-karat gold rising by Rs6,900 per tola to Rs460,336. The increase followed renewed strength in international bullion markets and reversed part of the volatility seen in domestic precious-metal prices during recent trading sessions.

The price of 10 grams of 24-karat gold increased by Rs5,914 to Rs394,663. The previous day's per-tola rate had stood at Rs453,436, meaning Friday's advance represented a significant single-session increase for buyers, jewellers and investors monitoring the local bullion market. The price of 22-karat gold per 10 grams was reported at Rs361,787.

International gold also moved higher, gaining $69 to reach $4,378 per ounce from $4,309. Movements in global bullion prices are a major influence on domestic rates, while the rupee-dollar exchange rate and local market conditions can also affect the final prices quoted in Pakistan. The simultaneous international and domestic gains reinforced the upward move seen during Friday's trading.

Silver prices also strengthened alongside gold. The price of 24-karat silver increased by Rs300 per tola to Rs7,169, while the 10-gram rate rose by Rs257 to Rs6,146. International silver advanced by $3 to $66.91 per ounce, extending the broader rise across precious metals.

The latest surge comes during a period of pronounced volatility in Pakistan's gold market. Gold had fallen by Rs3,800 per tola in the previous session after recording substantial gains earlier in the week. The rapid changes highlight how quickly domestic prices are responding to movements in global bullion markets and shifting financial conditions.

Higher gold prices have a direct impact on Pakistan's jewellery trade and consumers purchasing the metal for weddings, gifts and savings. A rise of several thousand rupees per tola can significantly increase the cost of jewellery purchases, particularly when prices remain above the Rs460,000 level. Jewellers and retail buyers are therefore closely watching daily changes before making larger transactions.

Gold also remains widely used as a store of value by investors seeking exposure to precious metals during periods of economic and financial uncertainty. However, prices can move in either direction as international interest-rate expectations, currency movements, geopolitical developments and investor demand change. Recent session-to-session swings demonstrate that buyers face substantial short-term price risk despite gold's traditional role as a defensive asset.

Market participants will now watch international bullion prices, the rupee's movement against the US dollar and domestic demand for signals about the next adjustment in local rates. Continued strength in global gold could keep Pakistani prices elevated, while a reversal overseas or changes in currency conditions could produce another rapid shift in the domestic market.