Pakistan’s gold reserves have touched nearly $9 billion as global bullion prices soar to record highs. This increase is mainly due to a rise in gold’s valuation rather than new purchases. Still, the surge provides much-needed strength to Pakistan’s external reserves and enhances confidence in the country’s ability to manage its financial obligations amid tough economic conditions.
Gold’s Share in Reserves Expands
According to recent data, Pakistan’s total reserves stand at around $23.4 billion. Earlier, gold accounted for about one-third of this total, but now it forms almost two-thirds. This remarkable jump follows a 50% global increase in gold prices throughout 2025, driven by rising inflation, geopolitical tensions, and heavy central bank buying across several major economies.
Global Factors Drive Safe-Haven Demand
Across the world, investors are shifting toward safe-haven assets like gold. The ongoing wars, rising fuel costs, and unstable markets have made bullion the preferred choice. Central banks in China, Russia, and India have been increasing their gold holdings, causing a worldwide ripple effect that lifted prices and directly boosted Pakistan’s gold valuation and external stability.
Local Gold Prices Break Records
In Pakistan, the price of 24-karat gold surged by Rs 14,100 per tola, reaching Rs 456,900. Likewise, 10 grams of gold rose by Rs 12,089 to Rs 391,718. This massive rise follows a week of strong global gains in bullion markets, where investors rushed to lock in profits before prices cooled slightly after hitting record highs.
Gold Prices Comparison
| Category | Previous Price (PKR) | Current Price (PKR) | Change (PKR) | Change (%) |
|---|---|---|---|---|
| 24-Karat Gold (per Tola) | 442,800 | 456,900 | +14,100 | +3.18% |
| Gold (10 Grams) | 379,629 | 391,718 | +12,089 | +3.18% |
| Global Spot Gold (USD/Oz) | 4,378.69 (High) | 4,212.99 (Current) | -165.70 | -3.78% |
Global Gold Market Sees Fluctuations
Internationally, spot gold slipped 2.6% to $4,212.99 per ounce after touching an all-time high of $4,378.69. December futures also dropped 1.8% to $4,225.80 as traders booked profits. Despite the minor correction, experts believe that gold prices will remain elevated due to central bank accumulation and uncertain global political and economic conditions.
Impact on Rupee and Economic Stability
The Pakistani rupee closed the session at Rs 281.10 per US dollar. While the rupee has weakened by 0.91% this year, it has appreciated 0.95% in the current fiscal year. The strong valuation of gold has offered support to Pakistan’s economy, giving the central bank more room to manage inflation and stabilize trade balances in the short term.
Valuation Gains, Not Fresh Inflows
Experts emphasize that the rise in Pakistan’s gold reserves is valuation-driven, not due to new inflows. Still, this boost enhances confidence among investors and strengthens financial buffers. If global gold prices remain high, Pakistan could continue to benefit from this positive shift, helping cushion the economy against external shocks and currency volatility.
