Gold rates in Pakistan remained steady on June 27, reflecting the impact of international market fluctuations. Local Sarafa markets across major cities like Karachi, Lahore, and Islamabad reported consistent pricing, influenced by global demand and currency movement.
Current Gold Rates in Major Cities
As of Friday, the price of 24-karat gold per tola stood at Rs 337,800. Meanwhile, 10 grams of 24-karat gold were priced at Rs 289,790. For 22-karat gold, the price per 10 grams was around Rs 265,640. These rates are updated by local bullion dealers based on real-time changes in the international market.
Global Trends Drive Local Pricing
The recent fluctuation in gold rates stems from global uncertainties, including shifting US monetary policy and geopolitical tensions. International gold prices hovered near $2,355 per ounce, which directly influenced Pakistan’s domestic gold valuation due to its dependence on dollar rates and international trade trends.
Read: KSE-100 Jumps 1,581 Points on Budget Approval, US Trade Breakthrough
Dollar Exchange Rate Also Impacts Gold
Another factor affecting local gold prices is the Pakistani rupee’s performance against the US dollar. As the rupee weakens, imported commodities like gold become more expensive. Despite a slight improvement in the rupee this week, gold prices stayed firm due to high global demand.
Investor Sentiment Remains Watchful
Jewellers and investors remained cautious. Many chose to hold off on major purchases, anticipating further developments in the international market and possible changes in local economic policy. Analysts noted that buyers are closely tracking inflation data and any moves from the US Federal Reserve, as these factors could trigger price shifts.
Silver Also Sees Moderate Movement
Silver prices also showed a stable trend. The per tola price of silver stood at Rs 4,000, while 10 grams were priced at Rs 3,430. While demand remained modest, silver continues to offer a budget-friendly investment alternative for small-scale buyers.
As economic conditions evolve, both investors and consumers are likely to monitor bullion prices closely in the coming days, particularly ahead of fiscal announcements and monetary policy decisions.
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