KARACHI: Gold prices in Pakistan increased on Wednesday, October 28, 2026, following an upward movement in international bullion markets.
The price of 24-karat gold rose by Rs3,500 per tola, reaching Rs425,636 in the local market.
The latest rates were issued by the All Pakistan Sarafa Gems and Jewellers Association.
The increase comes as international gold rates continue to fluctuate amid economic uncertainty and changing market conditions.
Latest Gold Prices in Pakistan Today
According to the association, the price of 10 grams of 24-karat gold increased by Rs3,001.
Following the increase, the new rate reached Rs364,914 per 10 grams.
Similarly, the price of 10 grams of 22-karat gold rose by Rs2,751 to Rs334,516.
The latest increase reflects changes in international bullion rates, which influence domestic gold markets.
In the global market, gold gained $35 per ounce, reaching $4,031.
The upward movement in international prices coincided with higher rates in Pakistan’s local markets.
Gold Rates in Pakistan on October 28, 2026
| Gold Category | Latest Price | Increase |
|---|---|---|
| 24K Gold Per Tola | Rs425,636 | Rs3,500 |
| 24K Gold Per 10 Grams | Rs364,914 | Rs3,001 |
| 22K Gold Per 10 Grams | Rs334,516 | Rs2,751 |
| International Gold Per Ounce | $4,031 | $35 |
Silver Prices Also Increase in Pakistan
Alongside gold, silver prices also recorded an increase in the domestic market.
According to the association, silver gained Rs61 per tola, reaching Rs5,854.
The price of 10 grams of 24-karat silver increased by Rs52 to Rs5,018.
International silver rates also moved higher, gaining $0.61 per ounce.
Following the increase, the global silver price reached $53.76 per ounce.
These changes reflect the upward movement recorded in both precious metals during Wednesday’s trading.
Global Economic Uncertainty Influences Gold Market
Despite its traditional reputation as a safe-haven investment, gold continues to face pressure from global economic developments.
Market uncertainty, higher energy prices, and changing investor expectations have contributed to fluctuations in bullion rates.
Concerns surrounding the Iran war have also affected global financial markets.
Meanwhile, movements in artificial intelligence-related technology stocks and rising government debt have added to market uncertainty.
ANZ analyst Soni Kumari said higher energy prices are increasing inflation concerns.
She explained that these risks could encourage the US Federal Reserve to maintain a cautious monetary policy.
Such conditions may create short-term challenges for gold because the metal does not provide interest income.
Rising Oil Prices Add Pressure to Global Markets
Oil prices increased by more than 1% on Wednesday following a reported refinery attack in Saudi Arabia.
The incident renewed concerns about possible disruptions to oil supplies from the major exporting country.
Higher energy costs can increase inflationary pressure across international markets.
They may also influence expectations regarding future interest rate decisions.
Investors are closely monitoring these developments because monetary policy changes can affect precious metal prices.
Investors Await US Federal Reserve Decision
Global financial markets are awaiting the Federal Reserve’s upcoming policy decision.
Investors are also watching the Personal Consumption Expenditures (PCE) inflation report scheduled for Thursday.
The PCE index is an important inflation indicator used by the Federal Reserve when assessing monetary policy.
According to a Reuters survey, economists expect inflationary pressures to continue affecting the global economy into next year.
Meanwhile, analysts have reduced their 2026 gold price forecasts for a second consecutive quarter.
Higher US Treasury yields and a stronger dollar have contributed to these revised expectations.
However, analysts still anticipate a possible recovery in gold prices during 2027.
Forecasts for platinum and palladium were also lowered for a third consecutive quarter.
Gold Prices Remain Sensitive to International Developments
The latest increase in Gold prices highlights the connection between Pakistan’s bullion market and international economic conditions.
Changes in global gold rates, currency movements, and investor expectations can influence domestic prices.
Market participants will continue monitoring international developments, including inflation data and central bank decisions.
For now, Gold prices in Pakistan have recorded another increase, with 24-karat gold reaching Rs425,636 per tola.
In other news read more about Gold Prices Fall In Pakistan Amid Rising Oil Prices
The future direction of local rates will depend partly on international bullion market movements and broader economic conditions.
