Gold prices in Pakistan have once again hit record highs, with rates approaching the Rs. 500,000 per tola mark after a historic single-day jump. According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local gold market saw an extraordinary surge on Friday, October 17, 2025, in line with global bullion trends. Whether you’re a jeweller, investor, or someone saving for a wedding, this guide explains what’s happening, why prices are climbing so fast, and what you should do next.
| Fact | Detail |
| Current Rate (24K) | Rs. 456,900 per tola |
| One-Day Change | +Rs. 14,100 |
| International Rate | $4,358/oz |
| Best Week Since | September 2008 |
| Silver Price (Tola) | Rs. 5,504 |
Latest Gold Prices in Pakistan – 17 October 2025
According to APGJSA:
| Type | Price (PKR) | Change |
| 24K Gold (1 Tola) | Rs. 456,900 | +Rs. 14,100 |
| 24K Gold (10 Grams) | Rs. 391,718 | +Rs. 12,089 |
| 22K Gold (1 Tola) | Rs. 418,824 | +Rs. 12,910 |
| Silver (1 Tola) | Rs. 5,504 | +Rs. 167 |
This marks the highest-ever per tola rate recorded in Pakistan, surpassing the previous record of Rs. 442,800 set just a day earlier.
Why Did Gold Prices Surge So Suddenly?
The massive jump in gold prices didn’t happen overnight by chance. A combination of international market movements, rupee depreciation, and investor behavior triggered this historic gain.
Key Reasons Behind the Spike:
- Global gold price rally reaching over $4,350 per ounce, an all-time high.
- US dollar weakness and market fears of new banking stress.
- Increased demand for gold as a safe investment amid uncertainty.
- Depreciating Pakistani rupee making imports costlier.
- Higher local premiums due to limited bullion supply and rising demand.
Global Market Impact
The surge in Pakistan’s market mirrors the global rally in gold.
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| Global Indicator | Value | Change |
| Spot Gold | $4,362.39 per ounce | +0.9% |
| US Gold Futures (Dec 2025) | $4,375.50 per ounce | +1.7% |
| Weekly Performance | +8.6% | Highest since Sept 2008 |
This means global bullion is on track for its best week in 17 years, largely due to:
- Concerns over US regional banks
- Trade tensions between major economies
- Market speculation about interest rate cuts by the US Federal Reserve
When global investors rush to gold, prices in emerging markets like Pakistan automatically follow.
Role of the Pakistani Rupee
A weaker rupee directly increases the local cost of imported gold. Every time the dollar strengthens, Pakistan’s bullion prices rise — even if international rates stay stable.
| Date | USD to PKR | Trend |
| October 1, 2025 | Rs. 281.50 | Stable |
| October 17, 2025 | Rs. 288.70 | Downward pressure |
| Change | +Rs. 7.20 | ~2.5% rupee loss |
That small depreciation translates into thousands of rupees per tola in the gold rate.
Impact on Local Buyers and Jewellers
This record-breaking surge has mixed effects across Pakistan:
| Group | Impact |
| Jewellers | Facing slower sales as prices hit unaffordable levels. |
| Small investors | Seeing strong returns if they bought gold earlier in 2025. |
| Brides’ families | Struggling to purchase jewellery due to price jumps. |
| Exporters | May benefit slightly if prices remain high globally. |
Many jewellers report reduced walk-in customers and more inquiries about gold exchange rather than fresh buying.
Should You Buy Gold Now?
Buying gold during record highs is always tricky. Experts recommend caution:
✅ When It Makes Sense to Buy:
- For long-term saving (3–5 years)
- If you expect inflation or rupee depreciation to continue
- For marriage jewellery you’ll need soon
⚠️ When to Avoid Buying:
- If you expect global correction in coming weeks
- For short-term flipping
- If local jewellers are charging excessive making charges
Expert Tips for Gold Investors in Pakistan
| Situation | Tip |
| Prices near record highs | Avoid panic buying |
| Need to hedge inflation | Buy small quantities monthly |
| Jewellery vs. bars | Prefer bars/coins for investment |
| Selling old jewellery | Compare rates across 2–3 dealers |
| Urban vs. rural buyers | Always check official APGJSA rates first |
What Analysts Expect Next
Financial analysts believe the Rs. 500,000 per tola mark could be reached within days if global momentum continues.
- Short term: Possible minor correction due to profit-taking.
- Medium term: Stable around Rs. 440,000–470,000 range.
- Long term: Upward trend likely if global inflation and uncertainty persist.
For now, Pakistan remains one of the most expensive gold markets regionally, but this could normalize if the rupee stabilizes.
FAQs
Q1: Why did gold prices rise so sharply in Pakistan?
Because of record-breaking increases in international prices, rupee depreciation, and investor demand for safe assets.
Q2: Will gold hit Rs. 500,000 per tola soon?
Yes, analysts say it could happen if the international rally continues into next week.
Q3: Is this the right time to buy gold?
Only if you plan long-term. Avoid panic buying at record levels.
Q4: How can I check the latest gold price?
Visit official APGJSA updates or trusted platforms like ProPakistani, Dawn, or Geo Business.
Conclusion
Gold’s surge near Rs. 500,000 per tola reflects both global and local economic realities. For Pakistanis, this means higher jewellery costs but also better returns for those holding gold. Staying informed, comparing daily rates, and investing wisely can help you avoid losses in such volatile times.
