Current prices for gold and silver, as of September 18, 2025.
In the global market, gold continues to be a sought-after commodity, much like oil, and its price in Pakistan has remained relatively stable. On September 18, 2025, the price of one tola (approximately 0.375 troy ounces) of 24 carat gold stood at Rs388,600.
The price of gold is influenced by various factors, including demand, supply, the value of the rupee against the US dollar, international prices, investor behaviour, and more. Gold is often seen as an inflation hedge, gaining support in times of economic uncertainty, such as in Pakistan.
Interestingly, while jewellery is one of the drivers of gold prices, it is a weaker one in Pakistan, as most people prefer to keep their gold for long-term investment rather than frequent purchases.
The price of silver, another precious metal, also saw a steady trend on the same day. The price of one tola of 24kt silver was Rs4,418, and that of 10 grams was Rs3,787.
The gold rates in Pakistan are not fixed daily but are determined by respective Sarafa associations in their cities. These associations play a significant role in setting the local gold prices, taking into account international market trends and local economic factors.
Last year, gold prices in Pakistan experienced fluctuations due to the devaluation of the rupee and economic and political uncertainty. However, on September 18, 2025, the gold prices remained unchanged across major cities, including Karachi, Lahore, Islamabad, Rawalpindi, Quetta, Multan, and others.
When the rupee is under pressure, investors often take refuge in gold as a safe-haven metal. This trend was observed in the past, and it continues to hold true in the current market.
Despite the relative stability in the gold prices, predicting future rates can be challenging due to the volatility of the bullion market. It is essential for investors to stay informed about the global economic factors, such as Federal Reserve interest rate decisions and geopolitical uncertainties, as well as local currency fluctuations against the US dollar, to make informed decisions.
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