Gold price inches up in Pakistan

KARACHI: Gold prices saw a slight increase in the local market on Thursday, the fourth business day of the week.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices rose by Rs500 per tola in the local market on Thursday, reaching Rs443,562. The metal had closed at Rs443,062 a day earlier after gaining Rs1,200 per tola on Wednesday.

Similarly, the price of 10 grams of gold increased by Rs428 to Rs380,282.

Pakistan’s annual gold demand stands between 60 and 90 tonnes, valued at roughly $8 billion to $12 billion, but more than 90 per cent of the trade remains undocumented.

A Competition Commission of Pakistan (CCP) report on the country’s gold market notes that around 70 per cent of domestic demand is linked to weddings and social events.

Pakistan also relies on gold imports, with $17 million worth of gold imported in the 2024 fiscal year.

The country’s official gold reserves were recorded at 64.76 tonnes by the end of 2025, valued at nearly $9 billion.

The report further states that the Reko Diq project could generate up to $74 billion in revenue over the next 37 years. Based on current prices, the project is expected to yield 17.9 million ounces of gold, valued at approximately $54 billion.