KARACHI – Gold shattered all previous records to hit Rs5million amid aggressive upward trajectory for 24-Karat Gold prices in Pakistan, showing how metal breached the unprecedented Rs 500,000 per tola mark by January 2026.
After a period of relative stability between mid-2023 and early 2024, where prices fluctuated between Rs 210,000 and Rs 250,000, the market entered a massive breakout phase in late 2024.
Gold Rates in Pakistan
| Period | Estimated Price |
|---|---|
| May 2023 – Aug 2023 | 220,000 – 240,000 |
| Sep 2023 | ~210,000 |
| Oct 2023 – Jan 2024 | 220,000 – 252,000 |
| Feb 2024 – Apr 2024 | ~245,000 |
| May 2024 – Aug 2024 | 250,000 – 287,000 |
| Sep 2024 – Oct 2024 | ~275,000 |
| Nov 2024 – Jan 2025 | 280,000 – 350,000 |
| Feb 2025 – Apr 2025 | ~355,000 |
| May 2025 – Jan 2026 | 370,000 – 506,000 |
This surge was fueled by economic factors a sharp increase in international gold prices toward $5,000 per ounce range, significant devaluation of Pakistani Rupee.
The global geopolitical instability that drove investors further push toward gold as safe-haven asset. The final “parabolic” move seen at the tail end of the chart indicates that gold prices nearly doubled in less than two years, reflecting intense inflationary pressure and a shift in domestic investment sentiment toward hard assets to preserve wealth.
Gold prices hit above Rs480,000 per tola for first time in Pakistan
