Overview
- Global precious‑metals markets swung into a selloff on Tuesday, June 23, with spot gold down about 1.6–1.8% to roughly $4,117–$4,125 per ounce.
- Pakistan saw one of the biggest retail moves, with 24‑karat gold per tola dropping about Rs10,400 to Rs432,236, according to the All Pakistan Sarafa Gems and Jewellers Association.
- Silver underperformed gold with futures and ETFs plunging roughly 3–5%, hitting 2026 lows and dragging large domestic silver ETF prices down by about 4–5%.
- Traders and analysts attribute the rout to a stronger U.S. dollar and higher odds of Fed tightening, which raise the opportunity cost of holding non‑yielding metals and lift Treasury yields.
- Markets are focused on upcoming U.S. readings—Personal Consumption Expenditures inflation and employment data—that could reprice Fed expectations and drive the next move in bullion, with tangible effects for consumers, jewellers and ETF holders in Pakistan and India.