Gold prices in Pakistan edged higher on Monday, September 15, with 24-karat gold trading at approximately Rs456,400 per tola in the Karachi bullion market, up modestly from Rs449,500 per tola recorded in PakDaily’s previous update on September 12. Silver held steady at around Rs6,788 per tola.
The uptick comes as international bullion trades in a tight, choppy range ahead of the US Federal Reserve’s policy decision this week. Spot gold was hovering near $4,310 an ounce, largely unmoved on the day, according to TradingEconomics data, as markets weigh a roughly 92 percent probability of another 25-basis-point rate move by the Fed. A stronger US dollar and 10-year Treasury yields near 5 percent have been capping gold’s upside, while a spike in oil prices — after Saudi Arabia shut down its East-West pipeline following drone strikes — has stoked fresh inflation worries that reinforce the case for tighter monetary policy, a combination that typically weighs on non-yielding assets like gold. At the same time, lingering Middle East tensions are lending some safe-haven support, keeping the metal in a holding pattern rather than a clear trend.
Domestically, live rate-tracker data from Sarafa.pk put 24K gold at Rs456,400 per tola on Sept 15, a figure corroborated within a tight margin by APGJSA-linked reporting carried by Daily Ausaf, which cited Rs453,336 per tola for the same day — a gap of under one percent, well within normal rounding variance between trackers. Both sources agree the domestic market has moved modestly higher since PakDaily’s last update on September 12, when 24K stood at Rs449,500 per tola (see that report here), and remains close to the rate published on September 14.
| Item | Per Tola | Per 10 Grams |
|---|---|---|
| 24K Gold | Rs 456,400 | Rs 391,340 |
| 22K Gold | Rs 418,400 | Rs 358,740 |
| 21K Gold | Rs 399,400 | Rs 342,470 |
| 18K Gold | Rs 342,200 | Rs 293,430 |
| Silver | Rs 6,788 | Rs 5,821 |
| International Gold (per oz, USD) | $4,310 | |
The 22K, 21K, and 18K rates are derived from the 24K price using the standard purity ratios (22/24, 21/24, and 18/24), consistent with how Karachi’s Sarafa market typically prices lower-karat jewellery gold. Jewellers in Karachi’s Saddar bullion market note that demand has been steady heading into the wedding season, though buyers are largely sticking to smaller-weight purchases given the elevated price level compared with earlier in the year.
Precious metals traders say the market is likely to stay range-bound in the next day or two, with the real test coming once the Fed’s decision and accompanying guidance are digested. A rate move that comes in as expected could see gold hold its current levels, while any surprise — either a pause or a larger hike — would likely trigger a sharper swing in both the international and domestic rates.
