Gold Price Rollercoaster in Pakistan (2026 Update): Above Rs. 526,000 Per Tola – Future Forecast and Market Trends

Gold prices in Pakistan continue to move sharply up and down, reflecting both international market forces and domestic economic conditions. As of mid-February 2026, gold has crossed the half-million rupee mark per tola, creating strong interest among investors, traders, and jewelry buyers.

Despite short-term volatility, the broader trend remains upward. Below is a complete and updated overview of current prices, reasons behind the surge, and predictions for the coming years.

Latest Gold Rates in Pakistan (Mid-February 2026)

According to domestic bullion market reports:

24K (Pure Gold)

• Per Tola: Rs. 506,500 – 526,000+
• Per 10 Grams: Rs. 434,000 – 452,000
• Per Gram: Rs. 43,000 – 45,000

Jewelry Gold Rates

• 22K Gold: Rs. 464,000+ per tola
• 21K Gold: Rs. 443,000+ per tola

Prices may vary slightly in cities such as Karachi, Lahore, Islamabad, and Multan depending on:

• Local supply and demand
• Transportation costs
• Dealer margins

Why Gold Prices Are So High in 2026

Several powerful factors are pushing gold prices to record levels in Pakistan.

1. Strong International Gold Prices

Globally, gold has been trading at historically elevated levels, often near $4,800–$4,900 per ounce in early 2026.

Key global drivers include:

• Inflation concerns in major economies
• Central bank gold buying
• Geopolitical tensions
• Slowing global growth

When global prices increase, Pakistan — which imports gold — automatically experiences higher local rates.

2. Weak Pakistani Rupee

Gold is traded internationally in US dollars. When the Pakistani rupee weakens:

• Imported gold becomes more expensive.
• Local bullion rates increase even if global prices stay stable.

Currency depreciation remains one of the biggest reasons for rising gold prices in Pakistan.

3. Strong Local Demand

Gold demand in Pakistan remains consistently high due to:

• Wedding season purchases
• Eid and festive buying
• Cultural traditions
• Long-term savings habits

Many families prefer gold over bank savings during inflationary periods.

Recent Price Fluctuations

Gold prices have shown noticeable swings in recent weeks.

Example of Recent Movement:

These daily changes reflect:

• International spot price movements
• Exchange rate volatility
• Market sentiment

This explains why gold is often described as being on a “rollercoaster.”

Short-Term Outlook (Rest of 2026)

Market analysts expect continued volatility but an overall upward bias.

Possible Scenarios

Bullish Case:

• International gold reaches $5,000–$5,500 per ounce
• Rupee remains under pressure
• Local price may rise to Rs. 550,000–600,000 per tola

Stabilization Case:

• Global markets calm
• Rupee stabilizes
• Gold may remain in the Rs. 530,000–570,000 range

Overall, 2026 is expected to remain strong for gold unless major global conditions improve.

Medium-Term Forecast (2027)

If current economic trends continue:

• Gold could move toward Rs. 600,000–750,000 per tola
• Continued rupee weakness would accelerate gains
• Strong global demand could support higher prices

However, improved economic stability or stronger currency performance could slow the pace of growth.

Long-Term Projections (2028–2030)

Long-term forecasts depend on multiple global factors.

Optimistic (High-Growth) Scenario

• International gold: $6,500–$8,000 per ounce
• Local price: Rs. 800,000–1,000,000+ per tola

Moderate Scenario

• Stable global markets
• Controlled inflation
• Gold range: Rs. 700,000–900,000 per tola

These projections depend heavily on:

• US dollar strength
• Global oil prices
• Central bank policies
• Regional geopolitical stability

Why Gold Remains Important in Pakistan

Even at record prices, gold demand remains strong because it serves multiple purposes.

Cultural Importance

• Essential for weddings
• Bridal jewelry traditions
• Family gifting during festivals

Financial Protection

• Protects against inflation
• Acts as emergency savings
• Retains long-term value

Investment Stability

Compared to:

• Volatile stock markets
• Currency depreciation
• Real estate liquidity issues

Gold is viewed as a safer and more liquid asset.

Forms of Gold Investment in 2026

Pakistanis invest in gold through:

• Jewelry (21K and 22K)
• 24K gold bars
• Gold biscuits
• Gold coins
• Digital gold accounts (limited availability)

Serious investors often prefer pure 24K bars due to lower making charges.

Tips Before Buying Gold

Before purchasing gold, consider the following:

• Compare rates from multiple dealers
• Check daily international spot prices
• Confirm gold purity (24K vs 22K vs 21K)
• Buy from reputable and certified dealers
• Understand making charges on jewelry

Avoid emotional buying during sudden price spikes.

Overall Market Summary (2026)

• 24K gold is trading above Rs. 500,000 per tola.
• International uncertainty continues to support high prices.
• Rupee depreciation remains a key risk factor.
• Long-term trend still appears upward.

Final Conclusion

Gold in Pakistan is currently experiencing high volatility but strong upward momentum. With prices crossing Rs. 526,000 per tola in February 2026, investors and buyers are closely monitoring both global trends and the rupee’s performance.

Short-term fluctuations are expected, but unless global inflation eases significantly or the rupee strengthens sharply, gold may continue its upward trajectory in the coming years.