Gold edged lower in Pakistan’s bullion market on Thursday, with 24-karat gold trading at Rs450,300 per tola (Rs386,070 per 10 grams) in Karachi, according to live rate trackers Hamariweb and ForexTrading.pk, which independently matched on the exact figure as set by the Karachi Sarafa/Jewelers associations. The rate is down Rs2,200, or roughly 0.49 percent, from Wednesday’s published rate of Rs452,500 per tola.
The domestic pullback comes even as international spot gold ticked up slightly overnight, trading near $4,297.93 per troy ounce, up about $10.54 or 0.25 percent on the day, according to TradingEconomics data. A stronger US dollar and rising Treasury yields — fuelled by stronger-than-expected American economic data — are capping gold’s upside, with markets now pricing in close to a 70 percent probability of another Federal Reserve rate hike in October, up from around 55 percent a day earlier. Elevated oil prices tied to lingering uncertainty around Iran have offered some marginal support, but not enough to offset the dollar-driven pressure. In the local market, the rupee held largely steady against the dollar at around Rs277.60 in interbank dealing — marginally firmer than the roughly Rs278.30 level seen a day earlier — meaning today’s modest domestic dip was driven mainly by the international pricing lag rather than any currency swing.
| Metal / Karat | Per Tola | Per 10 Grams |
|---|---|---|
| 24K Gold | Rs450,300 | Rs386,070 |
| 22K Gold | Rs412,775 | Rs353,898 |
| 21K Gold | Rs394,013 | Rs337,811 |
| 18K Gold | Rs337,725 | Rs289,553 |
| Silver (999 fine) | Rs6,794 | Rs5,825 |
| International Gold | $4,297.93 / troy ounce | |
Silver was little changed on the day at Rs6,794 per tola (Rs5,825 per 10 grams), based on matching figures from Gold.pk and ForexTrading.pk. Analysts are watching the Fed’s October meeting as the key near-term catalyst for bullion: a confirmed rate hike would likely keep gold under pressure globally, while any dovish surprise could quickly filter through to Karachi’s rates given how closely local prices track the international benchmark.
