Gold prices in Pakistan have hit an unprecedented high, with the cost of 24-karat gold surging by Rs 11,700 to settle at Rs 518,500 per tola as of February 9, 2026.
This dramatic rebound follows a brief period of volatility earlier in the week, marking one of the most aggressive price hikes in recent history for the domestic bullion market.
According to the All Pakistan Sarafa Gems and Jewellers Association (APGJSA), the new rates for various purities are as follows.
Local prices tracked a sharp international jump, where spot gold climbed nearly $117 per ounce to reach approximately $4,967.
Geopolitical concerns regarding regional instability, particularly involving the United States and Iran, have driven investors toward gold as a “safe haven” asset.
With ongoing currency depreciation and inflation, many Pakistanis are shifting from cash to gold and increasingly toward silver to preserve their wealth.
Markets have remained highly sensitive to the behavior and decisions of U.S. President Donald Trump, specifically regarding Federal Reserve nominations and potential Middle East actions.
The sudden spike has sent ripples through the jewelry industry during the height of the wedding season.
Many buyers are now opting for high-quality artificial jewelry or shifting their investment focus to silver, which has seen its own surge in popularity as a more affordable commodity.
