Gold price surges by over Rs10,000 per tola in Pakistan

All Pakistan Gems and Jewellers Association says price of gold per tola jumped by over Rs10,000, pushing new rate to Rs550,562 in local markets

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-Feb 28th, 2026) Gold prices on Saturday witnessed a massive surge across Pakistan, with the rate of the precious metal increasing by more than Rs10,000 per tola in a single day, further intensifying concerns among buyers and investors.

According to the All Pakistan Gems and Jewellers Association, the price of gold per tola jumped by over Rs10,000, pushing the new rate to Rs550,562 in local markets.

This marks one of the sharpest single-day increases recorded in recent weeks.

The association further stated that the price of 10 grams of gold also registered a significant rise. After gaining Rs8,574, the new price of 10 grams stood at Rs472,018.

The steep hike has directly impacted jewellery traders as well as consumers planning wedding and investment purchases.

Bullion dealers say the upward trend in domestic gold prices is largely driven by developments in the international market.

Globally, gold prices increased by $100 per ounce, taking the rate to $5,278 per ounce.

The surge in international bullion rates, coupled with Currency fluctuations, has contributed to the sharp rise in local prices.

Market experts believe that ongoing global economic uncertainty and geopolitical tensions are pushing investors toward safe-haven assets like gold, resulting in heightened demand and price volatility.

In Pakistan, the weakening of the local currency against the US Dollar has further amplified the impact of international price movements.

Traders anticipate continued volatility in the coming days, advising investors to monitor global market trends closely.

Meanwhile, consumers have expressed concern over the soaring rates, as higher gold prices may dampen jewellery sales, particularly during the ongoing wedding season.