Gold prices surged to an all-time high in Pakistan on Wednesday, January 21, crossing the Rs500,000-per-Tola mark for the first time in history.
According to the All Pakistan Sarafa Gems and Jewellers Association, both gold and silver prices reached record levels following a sharp rally in the international bullion market.
The price of gold per tola jumped by Rs12,700 to Rs506,362, setting a new national record. The rate for 10 grams of 24-karat gold also rose sharply, gaining Rs10,888 to reach Rs434,123.
Silver prices followed the upward trend. The price of 24-karat silver per tola increased by Rs64 to Rs9,933, reflecting strong global momentum.
Global rally fuels domestic surge
In the international market, gold climbed $127 to trade at $4,840 per ounce as rising geopolitical tensions pushed investors toward safe-haven assets. Silver also broke new ground, moving above $95 per ounce for the first time.
Fawad Razaqzada, a market analyst at City Index and FOREX.com, said investors continue to seek protection from political risk.
Read: Gold Price Hits Record High Above $4,800 on Global Tensions
He noted that a weaker US dollar has added further momentum to precious metals, strengthening gold’s rally at a time when confidence in US financial assets appears to be under pressure.
The surge comes ahead of former US President Donald Trump’s expected engagement with global business leaders at the World Economic Forum in Switzerland. At the same time, the US dollar posted its biggest daily decline in more than a month, making dollar-priced gold cheaper for international buyers.
Outlook remains bullish
Market analysts expect gold prices to remain firm amid global economic uncertainty and sustained demand for safe-haven investments. They point to gold’s limited supply, intrinsic value, and independence from government and central bank policies as key strengths.
Gold has long served as a hedge against inflation, currency depreciation, and financial instability. Its strong performance during periods of geopolitical stress continues to reinforce its reputation as a reliable store of value when confidence in paper currencies weakens.
