The gold rate in Pakistan today moved higher on Monday, ending five consecutive days of decline. Rates issued by the All Pakistan Sarafa Gems and Jewellers Association put 24-carat gold at Rs423,436 per tola, up Rs1,400 from the previous session, which had been the lowest level since mid-July.
Per 10 grams, 24-carat gold rose by Rs1,201 to Rs363,028. The 22-carat rate, often used for jewellery, increased by Rs1,101 to Rs332,787 per 10 grams.
Local rates and the international market
In the international market, gold rose by $14 to $4,009 per ounce, the association reported. The local rebound tracked those gains as lower oil prices eased some inflation concerns abroad.
Silver also firmed at home. Silver per tola rose by Rs20 to Rs5,878, while 24-carat silver per 10 grams increased by Rs17 to Rs5,039. International silver climbed by $0.20 to $54 per ounce, according to the association.
What is driving the move
Changes in international gold rates, swings in the US dollar, and local supply and demand are among the factors that shape the gold rate in Pakistan today. Global economic uncertainty and shifts in investor sentiment can add to those swings.
Senior financial market analyst Kyle Rodda said the jump was “mostly symptomatic of the kind of relief provided by a lower oil price,” but that the move “could easily be capped as markets position for the FOMC decision in a couple of days’ time.” He added that gold would “continue to trade as a function of interest rate expectations and geopolitical risks.”
Oil prices fell on Monday after rising to near six-month highs last week, amid hopes of easing tensions between the United States and Iran, while attacks on Saudi Arabia by Yemen’s Houthi movement kept energy-supply worries in view. Investors are also awaiting US Personal Consumption Expenditures (PCE) inflation data—the Federal Reserve’s preferred inflation gauge—due on October 29.
Timeline: what has happened so far
- Mid-July: Local gold last traded at levels as low as those seen before Monday’s rebound, according to the association’s comparison with the previous session.
- Five sessions before Monday: Gold prices in Pakistan fell for five consecutive days.
- Previous session before Monday: 24-carat gold hit its lowest level since mid-July.
- Monday: 24-carat gold rose Rs1,400 per tola to Rs423,436; 10-gram and 22-carat rates also rose; international gold gained $14 an ounce.
- October 29: US PCE inflation figures are scheduled for release, a date markets are watching for clues on interest-rate expectations.
Aasan alfaaz mein
Sone ka rate aaj phir barh gaya hai. Pichhle paanch din girne ke baad 24 carat sone ka ek tola Rs423,436 ho gaya hai—yeh Rs1,400 zyada hai. Das gram aur 22 carat ke rates bhi upar gaye hain. Zevar ya chandi kharidne walon ke liye kharcha thora barh sakta hai.
