Gold delivered another exceptional year for investors during fiscal year 2025-26, posting a gain of more than 21 percent despite a sharp correction in the final months of the year.
Data compiled by ProPakistani showed that the price of 24-karat gold stood at Rs. 350,200 per tola on July 2, 2025. By the close of June 30, 2026, gold had settled at Rs. 424,836 per tola, reflecting an increase of Rs. 74,636 per tola, or approximately 21.32 percent, in FY26.
Gold remained relatively stable during the first half of FY26 before staging an extraordinary rally at the start of 2026.
The precious metal hit a then-record Rs. 551,662 per tola on January 28, before reaching its all-time high of Rs. 572,862 per tola on January 29, 2026.
The January 2026 rally proved short-lived. On January 30, gold plunged by Rs. 35,500 in a single day to Rs. 537,362 per tola. Prices remained volatile in the following months, closing at Rs. 540,562 on February 27 before climbing to Rs. 543,262 by March 11.
A sharp correction followed in March. Gold slipped to Rs. 522,762 by March 16 and continued its decline, ending the month at Rs. 478,762 per tola after a series of heavy losses.
The bullion market rebounded in April, with gold once again crossing the Rs. 500,000 mark. On April 8, prices jumped by Rs. 15,700 to Rs. 504,162 per tola. However, the recovery lost momentum, with gold easing to Rs. 490,862 by April 24 and further declining to Rs. 485,062 by April 28.
The downward trend persisted through May despite intermittent gains. Gold fell to Rs. 476,862 on May 15, dropped further to Rs. 473,162 by May 24, and stood at Rs. 474,862 on May 29. Renewed geopolitical tensions following the US-Iran conflict, which disrupted regional markets including the UAE, briefly lifted prices to Rs. 476,162 per tola at the end of May.
Selling pressure intensified in June. Gold declined to Rs. 442,436 by June 10 before recovering above Rs. 450,000 to Rs. 455,136 on June 15.
The rebound proved temporary as prices slipped back to Rs. 442,636 on June 22, dropped another Rs. 10,400 to Rs. 432,236 on June 23, and finally settled at Rs. 424,836 per tola on June 30, after another Rs. 4,100 decline on the last trading day of FY26.
Although gold ended the fiscal year Rs. 148,026 below its all-time high, it still delivered one of the strongest annual returns among major investment assets in Pakistan.
From its opening price of Rs. 350,200 to the record high of Rs. 572,862, gold gained Rs. 222,662 per tola; sheer volatility and investor demand painted a chaotic picture of the market during FY26.
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