Gold Price in Pakistan Smashes Records: Per Tola Crosses Rs 500,000 Milestone

The gold market in Pakistan today saw a historical upset when prices hit the half-million rupee mark. This historic gold boom is due to the world geopolitical changes, namely the tension in Greenland and the American new trade tariffs. Bullion is swarmed by investors and the gold price in Pakistan has risen to record heights in the history of the country.

For the first time, the gold price in Pakistan has crossed the Rs 500,000 threshold. It is a somber milestone for the local jewelry industry, but a massive win for safe-haven investors.

Historic Surge in Gold Rates in Pakistan

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) confirmed a massive single-day jump of Rs 12,700. As of January 21, 2026, the rate for 24K gold stands at Rs 506,362 per tola. This 2026 gold rally has effectively doubled the prices we saw just two years ago.

Why the Gold Price in Pakistan is Climbing

The domestic market is responding to the worldwide spurt in commodity values. Spot gold today hit record levels of $4840 per ounce. This rush is a result of instability in the world and the threat of new trade tariffs by the US. The traders are shifting the capital out of the currencies into gold to save their wealth against inflation.

Impact of the 2026 Gold Rally

In Pakistan, the local prices of gold trade at a discount in spite of the record-breaking gold rates in Pakistan. The demand of jewelry within the country is also weak due to the middle class being unable to afford such prices. People have become used to selling old gold at the sarafa bazaars as opposed to purchasing new jewels.

Recent developments indicate that the gold rush can be further sustained under the condition of the geopolitical tension. Financial analysts recommend that one should take precaution since the market is very volatile. When you are monitoring the gold rates in Pakistan, closely monitor the international oil prices and announcements of the US Federal Reserve since this will determine the immediate action.