By Recorder Report
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KARACHI: Gold and silver surged to fresh record highs on Monday in both local and international markets, sending ripples across the bullion trade.
In Pakistan, the price of 24 karat gold climbed sharply by Rs3,400 to reach Rs393,700 per tola. The rate for 10 grams of 24 karat gold stood at Rs337,534, reflecting an increase of Rs2,915.
For 22 karat purity, gold was quoted at Rs309,417 per 10 grams after an upward jump of Rs2,672.
Silver tracked the same bullish trend, gaining Rs63 to settle at Rs4,595 per tola. Its 10-gram price was recorded at Rs3,939, higher by Rs54.
Globally, bullion markets mirrored this surge. International gold prices rallied by $34 to touch $3,719 per ounce, while silver advanced by $0.63 to settle at $43.68 per ounce.
The surge also highlights the historic journey of bullion in Pakistan. At independence in 1947, one tola of gold was priced at just Rs57. Through the 1950s and 1960s, prices moved modestly, staying below Rs150 per tola.
But by the 1970s, amid global oil crises and local currency pressures, gold jumped dramatically, rising from Rs154 in 1970 to Rs1230 in 1979, before crossing Rs2250 in 1980.
The following decades saw steady upward momentum, with gold priced at Rs6150 by 2000, Rs23,500 in 2008 during the global financial crisis, and Rs54,700 in 2011. After a brief correction around 2013–2015, the rally resumed, reaching Rs70,700 in 2019.
The COVID-19 pandemic accelerated the surge, with gold valued at Rs113,700 in 2020 and Rs125,900 in 2021. By 2023, the price soared to Rs206,500 per tola, rising further to Rs252,500 in 2024.
In 2025, the climb turned historic — valued at Rs308,000 per tola in February, and now at Rs393,700 in September, nearing the symbolic Rs400,000 mark.
Copyright Business Recorder, 2025
