KARACHI: Gold and silver prices in Pakistan hit record levels on Wednesday January 28 following a strong surge in the global bullion market, as reported by the All Pakistan Sarafa Gems and Jewellers Association.
The price of 24-karat gold rose sharply by Rs21,100 per tola, taking it to Rs551,662. The rate for 10 grams of 24-karat gold increased by Rs18,090 to Rs472,961, while 10 grams of 22-karat gold climbed by Rs16,583 to reach Rs433,563.
Silver prices also moved higher. The price of 24-karat silver went up by Rs271 per tola to Rs11,911, and 10 grams of silver increased by Rs232 to Rs10,211.
On the international front, gold prices jumped by $211 to set a new record at $5,293 per ounce. Silver also gained, rising by $2.71 to $114.36 per ounce, the association said.
Experts believe gold prices are likely to remain strong due to ongoing global economic uncertainty and sustained demand from investors looking for safe investment options.
They explained that gold continues to attract investors because of its limited supply, lasting value, and independence from government and central bank control, making it a reliable hedge against inflation, currency weakness, and economic instability.
Analysts also pointed out that rising geopolitical tensions, including conflicts, trade issues, and market swings, often push investors away from risk-heavy assets like stocks and speculative currencies toward bullion, which is seen as more stable during uncertain times.
Gold has traditionally symbolised wealth and security. Apart from its use in jewellery, it has long served as a trusted store of value, helping protect investors during periods of financial stress, political uncertainty, and market instability.
In recent years, its role as a haven has strengthened further, with both large institutions and individual investors turning to gold amid continuing global economic and political challenges.