KARACHI: Gold prices in Pakistan have soared to an unprecedented Rs319,000 per tola as of March 20, 2025, marking a historic peak that has both buyers and investors buzzing. While the steep climb might deter some, experts and market watchers argue this could be a golden opportunity—pun intended—for those looking to buy or invest in the precious metal.
The surge, which saw a Rs2,500 per tola jump in a single day, mirrors global trends where spot gold hit $2,688.95 per ounce, driven by a softening U.S. dollar and heightened safe-haven demand amid geopolitical unrest. In Pakistan, the picture is amplified by local woes: a weakening rupee—hovering at 278 to the dollar—rising inflation, and economic uncertainty. “Gold’s value spikes when trust in currency dips,” explained Haji Haroon Chand, a veteran jeweller in Karachi. “At Rs319,000, it’s not just a price—it’s a signal.”
For buyers, especially with wedding season nearing, the timing might seem daunting. Yet, some see it differently. “Gold at this level is a hedge against worse days ahead,” said Ayesha Khan, a Lahore-based bride-to-be who plans to buy despite the cost. “It’s expensive now, but it’ll hold value when cash won’t.” This sentiment aligns with gold’s reputation as a reliable store of wealth, a trait that’s drawn Pakistanis to it for generations.
Investors, meanwhile, are eyeing the Rs319,000 mark as a strategic entry point. “It’s high, but the trend is higher,” noted financial analyst Saad Bin Tariq. He points to global forecasts—like those from LiteFinance predicting gold could hit $4,000 per ounce by 2027—and local factors like political instability and central bank gold stockpiling, which tighten supply and push prices up. “If you’re in for the long haul, buying now could yield big returns,” he added. Pakistan’s gold market, often a barometer of economic distress, has seen demand spike as stocks wobble and the rupee falters—conditions that historically favor gold.
Skeptics, however, caution against blind optimism. “High prices can mean a bubble,” warned economist Dr. Aisha Ghaus. “If global tensions ease or the rupee stabilizes, we could see a correction.” Still, even she concedes gold’s allure during crises makes it a compelling bet now, especially compared to volatile equities or low-yield bank savings—Askari Bank’s 3.88% return over three months pales next to gold’s 13.91% in the same span, per posts on X.
At Rs319,000 per tola, gold isn’t cheap—but for buyers securing assets and investors banking on future gains, this peak might just be the perfect launchpad. As Chand put it, “Gold doesn’t sleep through storms. It shines.”
