Gold in Pakistan is holding near record territory on Thursday after bullion staged one of its sharpest single-day rallies in weeks, with the Karachi-based All Pakistan Sarafa Gems and Jewellers Association (APGJSA) confirming 24-karat gold at Rs426,036 per tola in its last announced rate, up a hefty Rs13,900 from the previous session, according to Business Recorder and The Nation, both citing the association’s own figures.
The jump followed a sharp rise in the international bullion market, where gold gained roughly 2.2% to trade around the $4,016-$4,035 per ounce range, according to Reuters. Analysts attributed the move to a weaker US dollar and a steep decline in both nominal and real US Treasury yields after Democrats won key congressional races in the November 3 US midterm elections, a result markets read as a check on the Trump administration. “A weaker USD and a punchy decline in both nominal and real US Treasury yields are clearly providing support for gold,” Pepperstone’s head of research Chris Weston told Reuters, adding that investors were also seeking a hedge against “a more unpredictable” political environment in Washington. StoneX senior market analyst Matt Simpson called the $4,000-an-ounce mark “the obvious resistance level” for gold’s next move.
Early Thursday trading has sent mixed signals on where the local market goes from here, and the day’s official APGJSA rate had not yet been announced at the time of writing. Minute Mirror’s morning rate feed showed 24K easing slightly to around Rs424,000 per tola, while Pakgold.net’s Karachi-linked tracker, timestamped just after 1 AM, showed a further climb to roughly Rs427,919 per tola. With both figures sitting close to Wednesday’s confirmed Rs426,036 close, the broader picture is that gold is consolidating near its recent highs rather than reversing course. Buyers are advised to confirm the live rate with their local sarafa dealer or jeweller before any purchase, since rates can still move during the trading session.
| Metal / Karat | Per Tola (Rs) | Per 10 Grams (Rs) |
|---|---|---|
| 24K Gold | 426,036 | 365,257 |
| 22K Gold | 390,533 | 334,819 |
| 21K Gold | 372,782 | 319,600 |
| 18K Gold | 319,527 | 273,943 |
| Silver | 5,663 | 4,855 |
| International Gold (per troy ounce, USD) | $4,035 | |
The 22K, 21K and 18K figures above are derived from the confirmed 24K rate using the standard purity ratios (22/24, 21/24 and 18/24). Silver also climbed alongside gold, with the APGJSA rate rising Rs295 per tola and Rs253 per 10 grams on Wednesday, while international silver gained roughly 3.8% to around $51.85-$52 an ounce on the same softer-dollar move, per Reuters.
Tuesday’s close, for comparison, had 24K gold at Rs412,136 per tola, per The Express Tribune, meaning Wednesday’s rally added nearly Rs14,000 to the metal’s value in a single session. For readers tracking the trend, Wednesday’s rate update has more on how the week has moved so far.
