Gold and silver prices in Pakistan remained elevated on January 17, 2026, reflecting strong international bullion rates and persistent currency pressure. According to Sarafa Markets, gold traded above Rs. 482,000 per tola, while silver prices also stayed firm, signaling continued investor preference for safe-haven assets. In local markets, 24-karat gold was priced at Rs. 482,540 per tola, while 10 grams stood at Rs. 413,707.5. On a per-gram basis, gold was available at Rs. 41,370.75. Meanwhile, 24-karat silver was sold at Rs. 9,462.48 per tola, with 10 grams priced at Rs. 8,112.69 and Rs. 811.269 per gram. Globally, gold prices hovered around $4,596.34 per ounce, while silver traded at $90.133 per ounce, maintaining near-record levels. International uncertainty, expectations of prolonged high interest rates, and geopolitical risks continue to drive demand for precious metals. Pakistan’s gold prices are directly linked to international bullion rates and the rupee-dollar exchange rate. Over recent months, a weaker rupee and rising global gold demand have kept local prices consistently high, limiting buying activity from retail consumers but increasing interest from long-term investors. A Karachi-based Sarafa trader said, “Gold prices are being driven mainly by international trends. Unless there is stability in the global economy or improvement in the local currency, prices are likely to remain firm in the coming days.” Market analysts believe gold may continue to act as a hedge against inflation and currency depreciation, while silver is gaining traction due to its dual role as both an industrial and investment metal. Any sharp movement in the dollar or global interest-rate signals could further impact prices.