Gold price surges by Rs2,400 in Pakistan per tola.
Gold prices in Pakistan climb, mirroring global market trends
Catch the latest buzz on the surge in gold prices in Pakistan! On a steamy Saturday, the price of gold per tola hit Rs338,500 — an impressive accumulation of Rs2,400 by the end of the day. This surge followed a gain of Rs900 the previous Friday, reaching Rs336,100 per tola.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) cited a jump in the international gold rate for the local market's buoyancy. On Saturday, the rate soared to $3,201 per ounce with a $20 premium, causing a gain of $24, according to the APGJSA.
Meanwhile, the price of silver per tola also inched up by Rs33, settling at Rs3,410 — an interesting contrast to the gold market.
Looking at the broader picture, as per our current understanding, global gold prices are currently hovering at an astounding $3,244 per ounce. This represents a significant increase over previous periods, primarily due to geopolitical uncertainty and economic conditions[2]. In early 2025, the gold market has seen a robust upward movement, pushing prices to record levels[5].
Experts predict this upward trend will persist, with some forecasts suggesting prices could remain above $3,000 per ounce[5]. The average price for May 2025 is estimated to be around $2,773 per ounce, potentially peaking at $2,820[4].
When weighing international prices against those in Pakistan, it's vital to convert the price per ounce to the equivalent price in grams or tolas. With 1 ounce approximating 31.1 grams, the price per gram translates to approximately $104. This means the price per tola is approximately $1,213, and 10 grams of gold would cost around $1,040.
Yet, it's essential to note that local market prices in Pakistan are not solely a reflection of international trends. Local factors such as taxes and demand play a significant role, causing slight variations from global patterns[6]. Hence, to get the most accurate snapshot of gold prices in Pakistan, it's advisable to consult current market data from local sources or reports.
In the context of the surge in gold prices in Pakistan, the increase in domestic prices can be attributed to a corresponding rise in international gold rates, with the global price per ounce currently hovering around $3,244 and offering an average price prediction of around $2,773 for May 2025. Meanwhile, the silver market in Pakistan also saw a minor increase, with the price per tola reaching Rs3,410. Comparatively, the price per tola in grams or ounces translates to approximately $1,213 globally, but local factors such as taxes and demand can cause slight variations from these international market trends in Pakistan.
