ISLAMABAD – Gold prices in Pakistan surged once again on Monday amid strong upward trend in the international bullion market which pushed local rates higher.
On November 9, the price of 24-karat gold jumped by Rs3,200 per tola to Rs432,336, reversing the weakness witnessed in the previous trading sessions while the price of 10 grams of gold also increased by Rs2,744, reaching Rs370,658.
Latest Gold and Silver Prices in Pakistan
| Precious metal | Latest rate |
| Gold per tola (24K) | Rs432,336 |
| Gold per 10 grams (24K) | Rs370,658 |
| International gold per ounce | $4,098 |
| Silver per tola | Rs5,723 |
The increase in domestic prices came as international gold climbed by $32 to reach $4,098 per ounce. Other market quotations placed the precious metal as high as approximately $4,123 per ounce.
The recovery in global prices provided support to Pakistan’s bullion market, where rates are influenced by international gold movements and changes in the rupee-dollar exchange rate. Silver followed the upward trend, gaining Rs55 per tola to settle at Rs5,723.
The latest increase comes after an exceptionally volatile start to November, when gold prices experienced sharp declines followed by a remarkable recovery.
Following a reported single-day drop of Rs10,800 toward the end of October, gold prices came under further pressure, reaching approximately Rs409,736 to Rs412,136 in early November. However, the downward trend did not last long. A sudden reversal pushed the price upward by Rs13,900 to approximately Rs426,000 per tola. Another powerful rally followed, adding Rs9,600 and taking the price to Rs435,636 on November 5.
Just as the recovery appeared to be gathering strength, the market suffered another setback. On November 6, gold prices plunged by Rs6,500 per tola, falling to Rs429,136. The rate remained unchanged on November 7 before recovering by Rs3,200 on Monday.
The rapid fluctuations have left buyers and investors facing an uncertain market, with significant price changes occurring within days.
Pakistan’s gold market began 2026 with extraordinary momentum, as strong international demand and global economic uncertainty drove prices to unprecedented levels. Gold was trading around Rs455,000 to Rs460,000 per tola during the opening days of January before entering a powerful upward rally.
International bullion prices were also experiencing exceptional gains, moving above $5,000 per ounce and reaching levels exceeding $5,500 during the rally. However, the record-breaking advance was followed by a sudden reversal.
The volatility continued throughout the following months, although the overall direction gradually shifted downward. During March, gold prices moved within a broad range of approximately Rs460,000 to more than Rs520,000 per tola.
September brought further pressure, with rates fluctuating mostly between Rs450,000 and Rs462,000. Gold was quoted at approximately Rs453,000 on September 25. The decline continued in October, when prices largely remained between Rs420,000 and Rs440,000 before sliding toward Rs410,000 in the closing days of the month.
Despite Monday’s increase, the scale of gold’s decline from its earlier peak remains significant. Based on the reported January 29 level of Rs572,862 and the latest November 9 price of Rs432,336, the precious metal has lost Rs140,526 per tola, representing a decline of approximately 24.5 percent.
The sharp correction shows that even gold, traditionally regarded as a safe-haven investment during periods of economic uncertainty, can experience substantial price fluctuations.
