Gold rate remains unchanged in Pakistan

Gold traders saw a quiet start to the week as prices in Pakistan stayed unchanged on Monday, even as the international market continued to struggle against a stronger US dollar.

In Karachi, the price of 24-karat gold stood firm at Rs428,862 per tola, the same level recorded a day earlier. The rate for 10 grams also showed no movement and remained at Rs367,680, according to figures shared by the All Pakistan Gems and Jewellers Sarafa Association. Dealers reported a similar pattern for 22-karat gold, which continued to trade at Rs337,052 per 10 grams.

Steady at home, pressure abroad

Silver followed the same trend in the domestic market. Prices stayed flat at Rs5,270 per tola and Rs4,518 per 10 grams, indicating muted trading interest as buyers waited for clearer signals from global markets.

While local rates showed no change, the international market painted a different picture. Spot gold hovered close to 4,062 dollars an ounce, slipping by 12.5 dollars from the previous session. Analysts said the metal has been under strain as the US dollar sits near a six month high, making gold more expensive for buyers holding other currencies.

The pressure deepened during early Monday trading overseas. Spot gold was down 0.3 percent at 4,055.73 dollars an ounce, while US gold futures for December delivery dropped 0.7 percent to 4,052.40 dollars an ounce. Market watchers said the rising dollar index, now above the 100 mark, is likely to keep gold under stress if it holds that level.

November sees gradual rise

Despite the calm start to the week, the broader trend for November tells a different story. At the beginning of the month, gold was priced at Rs424,162 per tola. With Monday’s rate at Rs428,862, the price has climbed by Rs4,700 per tola over the course of the month. Much of this increase came from a sharp rise over the weekend, when local gold rates jumped by Rs2,300 in a single day.

Traders said the overall upward movement reflects the influence of global uncertainty on investor behaviour. Even with the latest pause, many are keeping an eye on the US Federal Reserve’s signals on interest rates, which could steer gold’s next direction.

For now, the local market remains steady, but jewellers believe the calm may not last long if international volatility persists.