Gold Prices Surge Rs. 54,800 per Tola in a Month as Imports Stay Frozen

Gold prices in Pakistan have surged by nearly Rs. 54,800 per tola in just one month, driven by a complete halt in imports that has now stretched into its fourth consecutive month, according to official documents. The price of gold per tola has climbed by almost Rs. 86,000 over the past four months, with the rate in the Sarafa Bazaar reaching Rs. 356,900 in June. Market analysts warn that prices could rise even further if imports do not resume soon. According to government documents, no gold was imported in September 2025, marking the fourth straight month of a complete halt in imports. Data shows a 100 percent year-on-year decline in imports, with the first quarter of FY2025-26 recording zero inflows, compared to 55 kilograms imported during the same period last year. The last time any gold entered the country was in May 2025, when only 9 kilograms were imported. In contrast, September 2024 saw imports worth $4.6 million, while February 2025 recorded the year’s highest inflow of 43 kilograms valued at over $4 million. Traders say the ongoing ban has created severe shortages, fueling speculative buying and driving prices to historic highs. They warn that the trend may continue as wedding season demand peaks and global gold prices remain volatile.