Gold prices in Pakistan surged back toward the Rs 500,000 psychological barrier on Tuesday after two consecutive sessions of declines, with the precious metal trading above Rs 501,000 per tola intraday as global safe-haven demand revived on renewed geopolitical uncertainty following the collapse of US-Iran peace talks in Islamabad and Washington’s announcement of a naval blockade of Iranian ports on April 13. International spot gold climbed from Monday’s low of approximately $4,643 per ounce to trade around $4,730–$4,750, dragging Pakistani sarafa rates sharply higher in early Tuesday trade.
Today’s Rates — April 14, 2026
| Metal | Rate | Change vs. Monday |
|---|---|---|
| Gold 24K per tola | Rs 501,252 | +Rs 4,474 (+0.9%) |
| Gold 24K per 10 grams | Rs 429,630 (est.) | +Rs 3,835 |
| Gold 22K per tola | Rs 459,648 | Higher |
| Gold 21K per tola | Rs 438,970 | Higher |
| Gold 18K per tola | Rs 375,939 | Higher |
| Silver per tola | Rs 7,934–7,974 | Broadly flat |
| International gold | ~$4,730–$4,750/oz | Recovering |
Gold’s recovery on April 14 follows a sharp two-day pullback that briefly took the metal well below the Rs 500,000 mark:
| Date | Rate per Tola (24K) | Daily Change |
|---|---|---|
| April 8 (ceasefire rally) | Rs 504,162 | +Rs 15,700 |
| April 9 | Rs 507,000–510,200 | Higher |
| April 10 | Rs 494,662 | −Rs 9,500 |
| April 11 | Rs 496,962 | −Rs 700 |
| April 12–13 | Rs 495,000–497,000 | Mixed/flat |
| April 14 | Rs 501,252 | +Rs 4,474 |
Earlier on Thursday, gold prices in Pakistan declined sharply, even as international bullion markets posted gains. In the local market, the price of gold per tola fell by Rs 9,500 to settle at Rs 494,662. Similarly, the price of 10 grams of gold dropped by Rs 8,145 to Rs 424,092. The decline came a day after gold surged significantly, with the per-tola rate reaching Rs 504,162 on Wednesday following a jump of Rs 15,700.
On April 11, gold prices saw a minor decline in Pakistan after prices in the international bullion market dropped. The price of 24-carat gold per tola dropped by Rs 700, bringing it to Rs 496,962. Silver prices rose, with the price per tola increasing by Rs 50 to Rs 8,064.
The April 8 Pakistan-brokered ceasefire between the US and Iran had initially sent gold surging on optimism that the Strait of Hormuz would reopen. Following the US–Iran ceasefire announcement, the All Pakistan Sarafa Gems and Jewellers Association reported that 24-karat gold per tola increased by Rs 15,700, closing at Rs 504,162. In the international market, gold prices climbed by $157, reaching $4,814 per ounce.
But the ceasefire immediately showed cracks. By April 12, marathon peace talks in Islamabad between US Vice President JD Vance and Iran’s delegation ended without agreement after 21 hours of negotiations. On April 13, the US announced a naval blockade of all traffic entering and exiting Iranian ports, effective 10 a.m. ET. Oil surged back above $100 a barrel, WTI at $104.89, Brent at $102.15.
The collapse of Islamabad talks and the naval blockade announcement on April 13 — which drove gold briefly down to $4,643 globally on safe-haven profit-taking and dollar strength — have now reversed sharply. Gold’s April 14 recovery reflects the market recalibrating: a ceasefire that is “nominally still in place” but fragile is not an environment that reduces safe-haven demand — it amplifies uncertainty.
Experts suggest that as the US and Iran work toward a ceasefire, investors could redirect investments to gold, jacking up prices in coming days. Gold began the year with strong gains but has dropped over 8% following the outbreak of conflict with Iran on February 28.
Pakistan’s gold market has now orbited the Rs 5 lakh per tola level for three consecutive weeks, repeatedly breaching and retreating from this threshold. The gold rate for 24K stood at Rs 506,362 per tola on January 21, 2026 — a rally that effectively doubled prices seen just two years earlier.
Tuesday’s recovery above Rs 501,000 intraday confirms the threshold remains in play. The key variables: international gold settling sustainably above $4,800/oz (requires resumed conflict escalation or Fed dovish pivot) and the USD/PKR rate staying near Rs 279–280 (SBP’s managed band). JPMorgan raised its year-end 2026 target to $6,300 per ounce; UBS lifted its target to $6,200; Goldman Sachs projects $5,400; Deutsche Bank and Societe Generale moved to $6,000.
At $6,000/oz and a Rs 280 exchange rate, the implied local gold price would be approximately Rs 680,000 per tola — 35% above current levels.