KARACHI – In an unprecedented turn of events for the Pakistani bullion market, the price of gold has officially crossed the psychological barrier of Rs 500,000 per tola today, January 21, 2026. This historic surge comes amid a massive rally in the international market and deepening global economic uncertainty.

Today’s Gold Rates in Pakistan (Jan 21, 2026) According to the data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rates have seen a massive single-day jump:

24-Karat Gold (Per Tola): Rs 506,362 (Increased by Rs 12,700)

24-Karat Gold (10 Grams): Rs 434,123 (Increased by Rs 10,888)

22-Karat Gold (Per Tola): Rs 464,165 approx.

Silver Price (Per Tola): Rs 9,933 (New All-time High)

Why is Gold Skyrocketing? The local surge is a direct reflection of a "Gold Fever" hitting global markets. Internationally, gold prices jumped by a staggering $127 per ounce, settling at a record high of $4,840.

  1. The "Greenland Factor" & Trade Wars: The primary driver behind this global rush to safe-haven assets is the escalating tension regarding the US administration's stance on Greenland and potential trade tariffs against European nations. Investors are fleeing volatile stocks and currencies, choosing the safety of the "Yellow Metal."

  2. Domestic Market Pressure: In Pakistan, while the Rupee remained relatively stable at 279.91 against the USD, the sheer velocity of the international price hike forced local Sarafa markets to adjust rates upward by over Rs 12,000 in a single session.

Market Sentiment: Is it time to Buy or Sell? Bullion experts suggest that while the price has hit a "milestone," the market is currently in an overbought zone.

For Buyers: Analysts warn that wedding season buyers are already shifting toward silver or gold-plated jewelry as pure gold becomes inaccessible for the middle class.

For Investors: The "Sell America" trade trend in the West is supporting gold, with some projections suggesting gold could even eye the $5,000 per ounce mark globally before mid-February.

Impact on the Jewelry Industry APSGJA President Qasim Shikarpuri noted that while the "paper value" of gold is rising, actual physical trading for jewelry has slowed significantly. "Families are now polishing old silver ornaments for weddings instead of buying new gold," he stated, highlighting the inflationary pressure on the common citizen.