Gold Price in Pakistan Today (Oct 2)

Gold prices in Pakistan were little changed on Friday, with 24-karat gold trading at Rs440,400 per tola in the Karachi market — down a modest Rs600 from Thursday’s gold price update — as international bullion prices eased slightly overnight.

The Rs440,400 figure was confirmed by three independently updating trackers — Hamariweb, UrduPoint, and Gold.pk — all citing the Karachi Sarafa and Jewellers Association as their source, with Gold.pk explicitly dated Thursday evening’s close. A fourth tracker, Sarafa.pk, showed a notably lower reading of Rs430,200 per tola as of 5:06am Friday. International spot gold moved only marginally overnight and the US dollar-rupee interbank rate held flat at Rs277.50, so a same-morning swing of roughly 2.3 percent isn’t supported by the day’s actual drivers — for that reason, PakDaily has gone with the three-way Rs440,400 reading as today’s reported figure rather than the lower outlier.

Internationally, spot gold slipped to around $4,165 per ounce, down $12.64 (-0.3 percent) on the day, according to Trading Economics, putting the metal on course for a second straight weekly decline. The pullback comes even as traders have sharply dialled back expectations of a near-term US rate move — the CME FedWatch Tool now puts the odds of an October hike at just 36 percent, down from 70 percent earlier in the week, after a softer-than-expected core PCE inflation reading. That dovish repricing has been offset by a stubbornly high 10-year US Treasury yield, hovering near 5.25 percent after touching 5.34 percent — its highest level since 2002 — and a firmer US dollar, both of which raise the opportunity cost of holding non-yielding gold, according to FXStreet.

“The 4.1 percent unemployment rate is good, the labor market is healthy… consumer spending is strong across the economy,” said Minneapolis Fed President Neel Kashkari, per FXStreet, while cautioning that “if we keep raising rates, it will put different pressure on different parts of the economy.”

Silver also softened slightly. Two trackers naming the Saraf Jewelers Association as their source — Forex Trading Pakistan and TodayGoldRate.pk — put the rate at Rs6,881 and Rs6,794 per tola respectively, a close enough match (within 1.3 percent) that the higher, same-day figure is used as today’s headline silver price below. By contrast, two international-spot-conversion calculator sites, Goldz.pk and Goldpricez.com, showed meaningfully lower readings in the Rs6,340-6,360 range; consistent with this page’s standing practice of trusting a dedicated Pakistan sarafa tracker over a generic calculator, the sarafa-sourced figure is treated as the more reliable one for today’s retail rate.