Gold prices in Pakistan opened slightly lower today, showing minor correction after several days of steady gains. The market remains well-supported by global trends but is beginning to consolidate after touching record highs earlier this month.
| Purity | Per Tola (11.67 g) | Per 10 Grams | Per Gram | Per Ounce |
|---|---|---|---|---|
| 24K Gold | PKR 435,000 | PKR 372,950 | PKR 37,295 | PKR 1,057,050 |
| 22K Gold | PKR 398,750 | PKR 341,870.83 | PKR 34,187.08 | PKR 968,962.5 |
| 21K Gold | PKR 380,625 | PKR 326,331.25 | PKR 32,633.13 | PKR 924,918.75 |
| 18K Gold | PKR 326,250 | PKR 279,712.5 | PKR 27,971.25 | PKR 792,787.5 |
💹 24K gold dropped by PKR 2,000 per tola compared to the previous session, indicating a mild correction phase as international markets stabilize.
🌍 Global Market Overview
- International gold prices traded near $4,025 per ounce, slightly lower from this week’s peak, as investors took profit amid improving global risk sentiment.
- The U.S. dollar strengthened modestly after better-than-expected U.S. retail data, reducing gold’s near-term appeal.
- However, central bank gold purchases and persistent inflationary pressures continue to provide long-term support to the bullion market.
- Market analysts anticipate sideways trading this week as traders await upcoming Federal Reserve comments and fresh inflation data.
🇵🇰 Domestic Market Insights
- The Pakistani Rupee remained largely stable around PKR 283.30 per USD, preventing significant volatility in local bullion rates.
- Retailers in Karachi and Lahore report steady wedding-season demand, though some buyers are holding off due to high price levels.
- Investment demand continues from individuals hedging against inflation and currency depreciation, keeping volumes stable.
- Despite the slight pullback, gold prices remain near historical highs, underscoring the metal’s continued appeal as a safe store of value.
💡 Market Sentiment & Outlook
- Buyers: The minor dip offers a modest buying opportunity for those seeking long-term holdings or wedding purchases.
- Sellers/Investors: Prices remain attractive for partial profit-taking, though holding positions could yield more if international strength resumes.
- Analysts’ View: The short-term trend is neutral to bullish, with support around PKR 432,000 per tola and resistance near PKR 438,000. A move beyond these levels could set the tone for next week’s direction.
🔍 Key Factors to Watch
- USD/PKR exchange rate: Any movement here will directly affect local prices.
- Global inflation and interest rate updates: Expected from U.S. and Europe this week.
- Local retail demand: Expected to remain firm until the end of the wedding season.
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