As of 22 September 2025, here are some current gold price benchmarks in Pakistan:
| Purity / Unit | Price |
|---|---|
| 24-Carat (1 tola) | PKR ~ Rs. 392,000 |
| 22-Carat (1 tola) | ~ Rs. 359,000 – 360,000 |
| 24-Carat (1 gram) | ~ Rs. 33,600 – 33,650 |
These numbers are for major cities (Karachi, Lahore, Islamabad, etc.), and as usual, there may be small local variation depending on dealer markups, purity verification, and demand.
What’s Driving Gold Prices in Pakistan
Several interconnected factors affect why gold is priced the way it is locally. Here are the main ones:
- International Gold Price / Global Markets
Gold is traded globally in US dollars, and international spot prices heavily influence what you’re paying locally. - Pakistani Rupee (PKR) Exchange Rate & Currency Devaluation
Since gold is imported, the strength or weakness of the PKR is very important. A weak rupee makes gold more expensive even if the international gold price is stable. - Inflation
High inflation erodes purchasing power; people often turn to gold as a hedge, driving up demand. - Demand in Jewelry / Cultural & Festive Demand
Gold has strong cultural significance in Pakistan. Demand spikes during wedding seasons and festivals. - Speculation & Investor Sentiment
During global uncertainty, investors move money into safe-haven assets like gold, raising demand and prices. - Import Duties, Taxes & Regulations
Import duties, dealer markups, and transport costs also impact final prices in the local market.
Historical Trends in Pakistan
Looking over recent years:
- Gold price in PKR has generally risen steadily due to rupee depreciation, global price movements, and inflation.
- Over the last month (from mid-August to mid-September 2025), gold prices rose by about 8-10%.
- Over the past year, the increase is even more substantial — around 40-50%, driven by both international prices and rupee weakening.
Impacts & Implications
- Consumers / Jewelry Buyers:
Buying gold is becoming more expensive, leading many to delay purchases or buy smaller quantities. - Investors:
Gold remains attractive as a hedge against inflation and currency depreciation, though it carries risks like volatility and storage costs. - Government & Economy:
Higher gold imports put pressure on foreign exchange reserves and can worsen inflation. - Savers / General Public:
People are shifting savings into gold to protect value, further fueling demand.
What to Watch Out For Going Forward
- PKR vs USD Exchange Rate — further devaluation means higher gold prices.
- International Gold Price Movements — influenced by global inflation, interest rates, and geopolitics.
- Inflation & Domestic Economic Policy — high inflation tends to push gold prices higher.
- Import Duties / Trade Policies — any change in tariffs or taxes affects local costs.
- Seasonal Demand Spikes — especially during wedding and festive seasons.
- Alternative Investments & Interest Rates — if other investments become attractive, demand for gold could ease.
Conclusion
Gold prices in Pakistan are on a strong upward trend, fueled by rupee depreciation, global price hikes, and cultural demand. For consumers, it means higher costs; for investors, it remains a reliable hedge. Watching the exchange rate, inflation trends, and global gold markets will be key for anyone planning to buy or invest.
