Gold Gains Rs1,200 Per Tola In Pakistan Amid Global Bullion Rise
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✧ GENERATE BRIEFING
Domestic precious metal markets experienced an upward correction as gold prices in Pakistan rebounded, driven by positive momentum in international bullion benchmarks. According to official rates issued by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold advanced by Rs1,200 per tola to settle at Rs437,536. Similarly, the price for 10 grams of 24-karat gold increased by Rs1,029 to reach Rs375,116, while 22-karat gold rose to Rs343,868 per 10 grams. This domestic recovery followed a rebound in global spot gold, which climbed $12 to $15 per ounce to trade near $4,150–$4,160, supported by softer US labor and economic data that dampened market expectations for an aggressive Federal Reserve interest rate hike. The broader macroeconomic environment continues to bolster safe-haven assets, with international bullion demand further underpinned by concerns surrounding expanding US sovereign debt levels.
Gold prices in Pakistan increased on Monday, with the price of 24-karat gold rising Rs1,200 per tola to Rs437,536, according to rates issued by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The price of 24-karat gold per 10 grams increased by Rs1,029 to Rs375,116, while 22-karat gold rose to Rs343,868 per 10 grams.
Global Drivers and Federal Reserve Outlook
The latest increase followed a rise in international bullion prices. Global gold gained around $12 to $18 per ounce to trade near $4,150–$4,160, supporting the upward movement in domestic prices.
Gold has remained supported by expectations that the US Federal Reserve may be less aggressive with interest-rate increases in the near term. Softer US economic data has reduced expectations of an October rate hike, which can support non-yielding assets such as gold.
The international gold market is also being supported by concerns over rising US government debt, adding to longer-term demand for gold as a store of value.
Market Recalibration and Silver Milestone
In Pakistan, the latest move comes after gold prices had fallen sharply in the previous session. On Saturday, 24-karat gold declined Rs4,300 per tola to Rs436,336.
Meanwhile, domestic silver prices rose Rs66 per tola to Rs6,588, setting a new record. The price of 10 grams of silver increased by Rs57 to Rs5,648.
