Tuesday saw the gold prices soar to their all-time highs both in the international and local markets as investors flashed towards the precious metal following global uncertainty and anticipations of further US interest rate cuts.
Gold Prices – 23 September 2025
| Market | Price Change | New Price |
| International (per ounce) | +$34 | $3,719 |
| Pakistan (10 grams, 24K) | +Rs2,915 | Rs337,534 |
| Pakistan (1 tola, 24K) | +Rs3,400 | Rs393,700 |
Silver Prices – 23 September 2025
| Market | Price Change | New Price |
| International (per ounce) | — | $43.68 |
| Pakistan (10 grams, 24K) | +Rs54 | Rs3,939 |
| Pakistan (1 tola, 24K) | +Rs63 | Rs4,595 |
Why Are Gold Prices Rising?
Gold dealers say the sudden jump is linked to global factors. Recently, the US Federal Reserve reduced its benchmark interest rate by 25 basis points the first time the Fed had made such a reduction since December. Investors now anticipate further reduction in future and this tends to make gold more appealing.
Meanwhile, geopolitical tensions and political instability on the global front are also driving investors towards gold as a safe-haven which is a secure asset.
Impact on Buyers in Pakistan
While investors are buying more gold, everyday jewellery buyers in Pakistan are struggling.
“Families planning weddings are finding it very hard to afford gold,” said one jeweller. “Most people are either selling old jewellery or reusing it by making lighter designs.”
There are also buyers who are still buying small quantities of jewellery sets in small quantities of 50 to 100 grams. But as the prices of gold have reached new heights and life has become even harder due to the rise in inflation, the need to buy new jewellery has declined at a drastic rate.
Analysts reckon that gold prices will continue being unstable in the near future due to interest by the investors. For many Pakistanis, gold has become less of a jewellery choice and more of a financial hedge against inflation and economic uncertainty.
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