On Tuesday, March 17, 2026, gold prices in Pakistan experienced a noticeable uptick, mirroring movements in the global bullion markets. The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) confirmed that the price of 24-karat gold per tola rose by Rs1,000, settling at Rs523,762 compared to Rs522,762 recorded the previous day. This increase highlights the ongoing sensitivity of the local market to international fluctuations and investor sentiment.
In addition to the per tola rate, the cost of 10 grams of 24-karat gold also saw a significant rise, climbing by Rs857 to reach Rs449,041 from Rs448,184. This steady growth in gold prices reflects the metal’s sustained demand among Pakistani consumers, who traditionally view gold not only as an ornamental commodity but also as a reliable store of value in uncertain times. Meanwhile, silver prices followed a similar upward trajectory, with the per tola rate increasing by Rs128 to Rs8,569 from Rs8,441, indicating a broader trend of precious metals gaining ground in the local market.
On the international front, gold prices edged higher by $10, closing at $5,010 per ounce compared to $5,000 previously. This modest rise in global gold rates is largely attributed to escalating geopolitical tensions and economic concerns. Analysts point to the recent surge in oil prices, driven by intensified airstrikes carried out by the United States and Israel against Iran, as a key factor fueling market volatility. These developments have injected a heightened sense of uncertainty into global markets, prompting investors to seek refuge in safer assets like gold.
Experts remain optimistic about gold’s long-term prospects, emphasizing its role as a safe-haven investment during periods marked by instability. They highlight gold’s intrinsic qualities, including its finite supply and independence from government monetary policies, which make it a dependable hedge against inflation, currency devaluation, and financial market turbulence. Historically, gold has attracted investors when geopolitical conflicts, trade tensions, and financial disruptions undermine confidence in riskier assets such as stocks and speculative currencies.
In Pakistan, the cultural and economic significance of gold continues to reinforce its appeal beyond mere ornamentation. It serves as a financial safeguard for many households, especially during times of economic uncertainty and fluctuating currency values. The recent price increases underscore the metal’s enduring importance as both a symbol of wealth and a practical investment tool. As global uncertainties persist, the demand for gold in Pakistan is expected to remain robust, reflecting broader trends in international markets and the ongoing quest for financial security.
