Gold prices in Pakistan opened higher today, continuing their strong upward momentum in line with international market gains. Local demand remains resilient as global and domestic economic uncertainty keeps the yellow metal in focus.
| Purity | Per Tola (11.67 g) | Per 10 Grams | Per Gram | Per Ounce |
|---|---|---|---|---|
| 24K Gold | PKR 435,800 | PKR 373,630 | PKR 37,363 | PKR 1,058,994 |
| 22K Gold | PKR 399,483 | PKR 342,494.17 | PKR 34,249.42 | PKR 970,744.5 |
| 21K Gold | PKR 381,325 | PKR 326,926.25 | PKR 32,692.63 | PKR 926,619.75 |
| 18K Gold | PKR 326,850 | PKR 280,222.5 | PKR 28,022.25 | PKR 794,245.5 |
💹 Compared to the previous session, 24K gold increased by PKR – 3,800 per tola, marking another day of sustained strength in Pakistan’s bullion market.
🌍 Global Market Overview
- Gold is trading near $4,120 per ounce, touching a three-week high amid softer U.S. bond yields and renewed demand from investors hedging against inflation.
- The U.S. dollar index slipped slightly after weaker economic data, which boosted gold’s appeal as a safe-haven asset.
- Central-bank buying remains robust worldwide, particularly from emerging economies, adding long-term support for gold prices.
- Market analysts suggest that gold may soon test the $4,150 resistance level if geopolitical tensions and inflation concerns persist through mid-November.
🇵🇰 Domestic Market Insights
- The Pakistani Rupee traded around PKR 283.40 per USD, slightly weaker than last week, adding upward pressure to local bullion rates.
- Local demand remains strong as the wedding season continues, with retailers across Karachi, Lahore, and Rawalpindi reporting consistent buying activity.
- Bullion dealers note that supply constraints in imported gold have contributed to higher premiums, keeping domestic prices slightly above international parity.
- Investors continue to view gold as a reliable inflation hedge, particularly amid rising living costs and currency uncertainty.
💡 Market Sentiment & Outlook
- Buyers: With prices hovering near record highs, short-term buyers may want to hold off for minor pullbacks, though long-term investors continue to find gold attractive.
- Sellers/Investors: Elevated prices provide profitable exit points for traders who entered during October’s lower range.
- Analysts’ View: The short-term trend remains bullish, with resistance near PKR 438,000 per tola and support at PKR 430,000. Any surge in international spot prices or rupee weakness could propel rates higher.
🔍 Key Indicators to Watch
- USD/PKR Exchange Rate: Directly influences daily adjustments in local bullion prices.
- U.S. Inflation Data: Expected later this week, which could shape global monetary policy sentiment.
- Local Demand Cycle: Sustained jewellery demand through late November will likely keep gold prices elevated.
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