KARACHI: Gold and silver prices have witnessed an unprecedented surge in Pakistan’s local bullion markets, yet again, with gold prices skyrocketing by Rs.15,300 per tola in a single day.
According to the latest rates issued by the All Pakistan Sarafa Gems and Jewellers Association for Wednesday, April 1, 2026, the price of 24-carat gold per tola has reached a staggering Rs.494,062. This massive jump follows a period of extreme volatility over the past week, effectively erasing previous corrections and pushing the metal toward the historic half-million rupee milestone. The 10-gram rate for 24-carat gold similarly surged by Rs.13,117 to settle at Rs.423,578, while 22-karat gold rose to Rs.388,293.
It is generally believed that the dramatic escalation in the Karachi market is a direct reflection of a significant rally in the international market, where gold per ounce jumped by $153 to reach $4,713.
This global “gold rush” is being driven by intensifying geopolitical friction in the Middle East and a broader move by international investors toward safe-haven assets amid global economic uncertainty. Silver has also joined this bullish trend, with the local price increasing by Rs200 to reach Rs7,984 per tola, while the international silver rate climbed to $75.00 per ounce.
Traders at the Karachi Sarafa Bazaar note that the current momentum is among the strongest seen this year, fueled by a combination of record-breaking global spot prices and local currency fluctuations.
As the “yellow metal” continues to play its traditional role as a hedge against international instability, the local market is bracing for further impact from the ongoing developments in the Middle East and shifting global trade policies.
