Reporting snapshot · 21 January 2026. This report reflects the gold and silver rates published on the evening of 21 January 2026 and the international price cited in that report.
What happened
Gold prices in Pakistan crossed Rs500,000 per tola for the first time on Wednesday, 21 January 2026, according to The Nation. The report said the 24-carat rate rose by Rs12,700 per tola to a record Rs506,362.
The same report said gold rose by $127 an ounce internationally to a fresh all-time high of $4,840 an ounce. In the local market, the price of 10 grams of 24-carat gold increased by Rs10,888 to Rs434,123, while silver rose by Rs64 per tola to a record Rs9,933.
Why it matters
The milestone passed Rs500,000 per tola, a round-number level that local buyers and jewellers watch closely. The move tracked a sharp international rally, with the domestic rate set by the landed cost of bullion plus local charges, so the record mainly reflects the global price and the rupee cost of importing metal.
Gold is widely held in Pakistan as a store of value and a hedge against inflation and currency weakness, which is why a record local rate draws attention beyond the bullion trade. The same report said silver also set a record, extending the rally across precious metals.
What is still uncertain
The report gave the day’s rates but not the reasons behind the international surge, the year-on-year change in local prices, or any outlook. It also did not publish equivalent 22-carat or silver-per-10-gram figures, or say how long the record levels would hold.
Sources & reporting notes
This article summarises published reporting and is not eyewitness reconstruction. Sources were reviewed on 21 January 2026.
- The Nation — Gold breaks all records as prices cross Rs 500,000 per tola in Pakistan21 January 2026 · The Rs500,000-per-tola milestone, the Rs506,362 24-carat rate, the $4,840 international price, the per-10-gram and silver figures.
