Gold prices in Pakistan surged to a fresh all-time high on Wednesday, December 24, 2025, mirroring a powerful international rally that pushed bullion above the psychologically important $4,500-per-ounce level. Local markets saw a sharp jump in 24-karat gold, while silver also climbed to new records, keeping jewellers, investors, and wedding-season buyers on edge as the year closes. Associated Press of Pakistan
Gold rate in Pakistan today: latest Sarafa/association prices (24 Dec 2025)
According to rates circulated by Pakistan’s Sarafa/jewellers association and reported by APP, 24K gold set a new record in the domestic market:
- 24K gold (per tola): Rs472,862 (up Rs2,000 vs. the previous close)
- 24K gold (10 grams): Rs405,402 (up Rs1,714)
- 22K gold (10 grams): Rs371,632 (up Rs1,572) Associated Press of Pakistan
Silver prices climbed alongside gold:
- Silver (per tola): Rs7,705 (up Rs500)
- Silver (10 grams): Rs6,605 (up Rs428) Associated Press of Pakistan
Multiple Pakistani outlets echoed the same headline figure—Rs472,862 per tola for 24K—as the new record for December 24. Dunyanews
Why different websites show different “gold price in Pakistan today” numbers
If you searched “gold price Pakistan” early in the day, you may have seen noticeably lower figures (for example, around Rs470,200 per tola on some live-rate pages). Hamariweb
That gap is common in fast-moving markets and usually comes down to three things:
- Timing of updates: Sarafa market rates can shift intraday; some portals update quickly, others lag behind the latest association quote. The move from ~Rs470,200 to Rs472,862 implies the market repriced materially during the day. Associated Press of Pakistan
- Source methodology: Some publishers use the local association’s published rate; others compute PKR prices by converting international gold (XAU/USD) with USD/PKR and unit conversions. FXStreet, for example, explicitly states its Pakistan prices are adapted from international prices and exchange rates and can differ from local market quotes. FXStreet
- City and retailer differences: Even with a “national” benchmark, final retail quotes can vary by city, shop, and the inclusion/exclusion of making charges and premiums.
For anyone buying or selling physical gold in Pakistan today, the most practical approach is to treat online rates as reference points and confirm the exact buy/sell quote with your local jeweller (including all charges) before transacting.
What happened globally on 24 December 2025: gold above $4,500 changes the local equation
Pakistan’s gold market does not move in isolation. On December 24, Reuters reported that gold surged past $4,500/oz for the first time, with spot prices touching a record $4,525.19 before easing, as investors piled into precious metals amid geopolitical/trade risks and expectations of further U.S. rate cuts in 2026. Reuters
Key international price points cited by Reuters on Dec 24:
- Spot gold: about $4,481.90/oz at the time of the report, after a record $4,525.19
- U.S. gold futures: around $4,509.20/oz Reuters
Pakistan-focused reports on the same day also referenced international gold around $4,505/oz—a reminder that global prices are shifting throughout the session, and different outlets capture different timestamps. Associated Press of Pakistan
What’s driving the rally: the forces lifting gold prices in Pakistan right now
The story of “gold prices Pakistan” on December 24 is really the story of a global surge passing through local currency and supply-demand dynamics.
1) Safe-haven demand tied to geopolitics and trade risks
Reuters pointed to investors buying precious metals to hedge against geopolitical and trade risks, reinforcing gold’s role as a “safe” asset when uncertainty rises. Reuters
2) Markets betting on U.S. rate cuts in 2026
Lower expected interest rates tend to support gold because bullion does not pay interest; when rates fall, the opportunity cost of holding gold often declines. Reuters explicitly linked the move to expectations of further U.S. rate cuts in 2026. Reuters
3) A weaker U.S. dollar backdrop
A softer dollar often supports dollar-priced gold globally. On December 24, Reuters separately reported the U.S. dollar was on track for its worst year since 2003, down about 9.9% in 2025 against a basket of currencies. That kind of currency backdrop can amplify international bullion demand and spill over into local markets like Pakistan. Reuters
4) Central bank buying, “de-dollarisation” themes, and ETF inflows
Reuters highlighted that gold’s huge 2025 rise has been fueled by robust central-bank buying, de-dollarisation/dollar diversification narratives, and ETF inflows alongside rate expectations and safe-haven demand. Reuters
5) Thin year-end liquidity (holiday conditions)
Late-December trading conditions can exaggerate moves. Reuters noted thin year-end liquidity may have amplified price action even as the broader theme appears intact. Reuters
The local Pakistan angle: why global prices can translate into sharper moves at home
When international gold jumps, Pakistan’s domestic gold price typically reflects:
- International gold price (USD/oz)
- USD/PKR exchange rate
- Local premiums/discounts, supply constraints, and demand
- Market expectations (and sometimes “rush” buying or cautious selling)
That’s why days like December 24 can deliver sudden steps higher in the domestic benchmark—especially when headlines signal new global milestones (like $4,500/oz).
2026 outlook and forecasts: what analysts are saying after gold’s record run
With gold ending 2025 near historic highs, the big question for Pakistan is whether today’s record becomes a “new base” or a short-term peak.
Global forecasts cited on 24 December 2025
A Business Insider report published Dec 24 argued the drivers look “structural,” and said major banks expect gold to trade around $4,500–$4,700 in 2026, with possible upside toward $5,000 if macro conditions persist. Business Insider
The $4,900 call: Goldman Sachs’ base-case
Reuters reported (Dec 18) that Goldman Sachs sees gold climbing to $4,900/oz by December 2026 in its base case, citing structurally high central-bank demand and cyclical support from Fed rate cuts. Reuters
The $5,000 “next 6–12 months” narrative
In Reuters’ Dec 24 coverage, Ilya Spivak (Tastylive) suggested gold could target $5,000 over the next six to 12 months, with silver potentially moving toward $80 as markets respond to psychological levels. Reuters
Important context for readers in Pakistan: these are international forecasts (USD/oz). Even if global prices stabilize, PKR pricing can still change meaningfully depending on USD/PKR moves and local market conditions.
What today’s record means for Pakistani buyers
If you’re buying jewellery (especially for weddings)
- Expect “sticker shock” and tighter bargaining room. When the benchmark is making new highs, jewellers often become more cautious about discounting.
- Know your karat: In Pakistan, much jewellery demand centers on 22K; 24K is more of an investment/reference benchmark. Today’s 22K 10-gram figure was reported at Rs371,632. Associated Press of Pakistan
- Ask for a full breakdown: rate + making charges + wastage + stones + tax (if applicable). The “per tola” headline is not the final bill for jewellery.
If you’re buying bars/coins for investment
- Volatility risk is elevated at record highs. Big upside days can be followed by sharp pullbacks—especially in thin holiday markets. Reuters
- Track both global gold and USD/PKR. Pakistan prices can move on either lever, not just international bullion.
- Stick to documentation: insist on receipts that clearly state weight, purity, and buyback terms.
(This is general information, not financial advice.)
What to watch next for “gold prices Pakistan”
Over the coming days and into early 2026, Pakistan’s gold market will likely react most to:
- U.S. rate-cut expectations and real yields (supportive when they fall) Reuters
- Dollar direction (2025’s broad weakness has been a tailwind for gold) Reuters
- Geopolitical and trade headlines that trigger safe-haven buying Reuters
- Local liquidity and demand swings around wedding season, holidays, and major rupee moves
Bottom line
On December 24, 2025, Pakistan’s gold market printed a new milestone: Rs472,862 per tola for 24K gold, with silver also hitting Rs7,705 per tola, as a global bullion frenzy lifted gold above $4,500/oz and rewrote expectations for 2026. Associated Press of Pakistan
For readers tracking “gold prices Pakistan” daily, today’s takeaway is clear: the local market is being pulled by powerful global currents—rate-cut bets, dollar weakness, and geopolitical uncertainty—while forecasts are increasingly clustering around the idea that elevated prices could persist into 2026, with some analysts even eyeing the $5,000/oz zone. Business Insider
