KARACHI – In a notable development for the jewelry market, gold prices in Pakistan experienced a significant increase on Saturday, aligning with a rising trend in the global market. According to the local jewellers association, the price of gold per tola surged by Rs2,300, reaching a new high of Rs428,862. Meanwhile, the price for 10 grams of gold rose by Rs1,972, settling at Rs367,680 as the business week came to a close.
Global Influences on Local Gold Prices
The upward trajectory in local gold prices is largely attributed to movements in the global market. On the international front, the price of gold per ounce climbed by $23, reaching $4,065. This increase reflects a broader trend in precious metals, driven by various economic factors, including inflation concerns and shifts in currency values. As gold is often viewed as a safe-haven asset, fluctuations in its price can significantly impact local markets, especially in countries like Pakistan where gold holds cultural and economic significance.
Current Gold Rates in Pakistan
As of today, the gold price has reached Rs428,862 per tola following the recent increase of Rs2,300. This price adjustment not only affects consumers but also has implications for the jewelry industry, which relies heavily on gold as a primary material. The rise in gold prices can lead to higher retail prices for jewelry, impacting consumer purchasing behavior.
Lifting the Ban on Global Gold Trade
In a related development, the federal government has officially lifted the ban on gold imports and exports, providing much-needed relief to the business community engaged in the jewelry trade. This decision follows an approval from the federal cabinet, leading the Ministry of Commerce to issue a notification that restores the previously suspended Statutory Regulatory Order (SRO) governing the global trade of gold.
The notification also outlines several amendments to the framework regulating the import and export of precious metals and jewelry. These changes aim to promote transparency and enhance the automation of the gold trade process, making it easier for businesses to operate within the legal framework.
Background on the Ban
The ban on gold exports and imports was initially imposed in May 2025 due to rising concerns over gold smuggling. The Ministry of Commerce had suspended the SRO governing gold trade for 60 days as part of efforts to regulate the sector and curb illegal activities. Reports indicated that the enforcement of this ban was a response to increasing instances of smuggling, which posed significant challenges to the integrity of the gold market.
However, with no significant complaints of smuggling reported in recent months, the government has decided to lift the restrictions and restore previous regulations. This decision is expected to revitalize the gold trade and provide a boost to businesses that had been adversely affected by the ban.
Conclusion
The recent surge in gold prices in Pakistan, coupled with the lifting of the ban on gold trade, marks a pivotal moment for the jewelry industry. As global market trends continue to influence local prices, stakeholders in the gold trade are optimistic about the future. The government’s proactive measures to regulate and facilitate gold imports and exports will likely enhance market stability and promote growth in this vital sector of the economy.
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