Gold prices in Pakistan’s local markets increased, reflecting a rise in global bullion rates. The international gold price climbed by $5, reaching $2,708 per ounce.
In local markets, the price of 24-carat gold per tola rose by Rs 500 to settle at Rs 282,900. Similarly, the price per 10 grams increased by Rs 429, reaching Rs 242,541.
In contrast, silver prices experienced a decline. The price of silver per tola dropped by Rs 9 to Rs 3,372, while the price per 10 grams fell by Rs 8 to Rs 2,890.
Globally, gold prices edged higher on Monday, buoyed by a weaker US dollar, as markets awaited Donald Trump’s inauguration and his speech later in the day for insights on the potential economic impact of his policies and the outlook for interest rate cuts.
Spot gold gained 0.1%, trading at $2,704.85 per ounce as of 0924 GMT.
Trump has proposed tariffs, including up to 10% on global imports, 60% on Chinese goods, and a 25% surcharge on imports from Canada and Mexico.
Goldman Sachs stated, “Given gold’s status as a financial asset, it is likely exempt from broad-based tariffs. We assign only a 10% probability of a 10% effective tariff on gold being introduced within the next 12 months.”
Gold prices reached their highest since December 12, 2024, last week, following cooler core inflation data, dovish remarks by Fed Governor Waller, and expectations of gradual tariff implementations.
These factors led traders to anticipate two rate cuts this year instead of the previously expected one.
Other precious metals also saw declines. Spot silver fell 0.2% to $30.29 per ounce, palladium slipped 0.7% to $936.35, and platinum dropped 0.6% to $942.25.
