Key Points
- 24-karat gold per tola holds at Rs 398,800
- 10-gram price remains Rs 341,906
- International bullion eases on profit-taking
- Traders eye Fed cues and rupee stability for direction
ISLAMABAD: Gold prices in Pakistan remained stable on Wednesday, reflecting a pause in the international rally that had driven the precious metal to record highs earlier this week.
Local jewellers said trading volumes were subdued as buyers awaited fresh signals on global interest rates and the rupee’s outlook.
According to figures released by the All Pakistan Gems and Jewellers Association and reported by Business Recorder, the price of 24-karat gold per tola remained unchanged at Rs 398,800. Likewise, the rate for 10 grams was flat at Rs 341,906. In contrast, silver prices remained steady, with 24-karat silver quoted at Rs3,200 per tola.
Dealers told the media that the stability reflected limited domestic demand in mid-week trade, even as international bullion has eased slightly. On the global stage, spot gold slipped 0.3 per cent to $3,753.22 per ounce, while U.S. gold futures for December delivery dipped around 0.5 per cent to $3,798.20, according to Reuters. Analysts attributed the move to profit-taking following fresh record highs, alongside investor caution ahead of U.S. Federal Reserve policy guidance.
Market participants explained that domestic gold rates continue to mirror international trends adjusted for the rupee fluctuations. Jewellers told journalists that any renewed weakness in the local currency could quickly translate into higher retail prices, despite the temporary calm in global markets.
Outlook: With international bullion consolidating and the rupee showing signs of fatigue, local gold prices are expected to remain range-bound in the near term. However, any sharp currency swings could quickly alter the trajectory.
