Gold prices in Pakistan began the new month on a stronger note, extending last week’s rally as global demand and investor confidence remained firm. The rise follows international gains amid expectations of a U.S. interest rate cut and a weaker dollar outlook.
| Purity | Per Tola (11.67 g) | Per 10 Grams | Per Gram | Per Ounce |
|---|---|---|---|---|
| 24K Gold | PKR 449,000 | PKR 384,950 | PKR 38,495 | PKR 1,091,070 |
| 22K Gold | PKR 411,583.33 | PKR 352,870.83 | PKR 35,287.08 | PKR 1,000,147.5 |
| 21K Gold | PKR 392,875 | PKR 336,831.25 | PKR 33,683.13 | PKR 954,686.25 |
| 18K Gold | PKR 336,750 | PKR 288,712.5 | PKR 28,871.25 | PKR 818,302.5 |
💹 24K gold rose by PKR 6,000 per tola compared with the previous session, continuing a strong uptrend as the month begins.
🌍 Global Market Overview
- International gold prices advanced to around $4,095 per ounce, supported by rising demand for safe-haven assets amid persistent economic uncertainty.
- The U.S. dollar index weakened slightly, helping boost gold’s value for non-dollar investors.
- Analysts attribute the current rally to expectations of monetary easing, central-bank accumulation, and moderate inflation pressures in key economies.
- Market watchers note that if gold maintains momentum above $4,100, the next resistance zone could be $4,130–$4,150 per ounce, potentially leading to fresh all-time highs.
🇵🇰 Domestic Market Insights
- The Pakistani Rupee traded around PKR 283.65 per USD, staying largely stable and allowing local bullion prices to follow global trends closely.
- Retail jewellers in Karachi, Lahore, and Islamabad reported an uptick in activity as buyers entered the market before anticipated further gains.
- Wedding-season demand remains strong, keeping physical markets well supported.
- Traders indicate that investment interest continues to rise as individuals seek a hedge against inflation and currency depreciation.
💡 Market Sentiment & Forecast
- Buyers: Prices are at high levels, but market strength may continue — buyers looking for long-term holdings might prefer to act before another potential surge.
- Sellers/Investors: Current rates offer profitable opportunities for partial liquidation, though momentum suggests more upside could be ahead.
- Analysts’ View: The trend remains bullish, with short-term support near PKR 446,000 per tola and resistance around PKR 452,000 per tola. Sustained buying could test higher levels this week.
🔍 Key Factors to Watch
- U.S. economic releases and any Fed commentary on rate-cut timing.
- USD/PKR exchange-rate movement, influencing import-driven adjustments in local pricing.
- Local jewellery demand, which is expected to remain strong throughout December.
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