Overview
- International spot gold slipped about 0.3% after stronger US employment data tightened near‑term Fed‑hike odds, and markets marked lower intraday ranges as trading volumes stayed thin.
- Pakistani retail quotes fell to Rs463,136 per tola for 24K gold and Rs397,064 for 10 grams, while Indian city prices listed 24K at roughly Rs15,414 per gram, with final consumer bills still varying by taxes and making charges.
- Traders are pricing roughly a 60% chance of a Fed rate increase at the next meeting, a shift that pushed the dollar and Treasury yields up and is the main force behind near‑term downward pressure on bullion.
- Market participants warned of continued volatility ahead of US PPI/CPI releases and the Fed decision, with analysts pointing to short‑term technical support near $3,951 an ounce and possible moves up toward $4,645.
- Local factors such as import duties, GST/TCS, currency moves and jewellers’ making charges mean retail prices can diverge from spot moves, affecting household buying costs and jewellers’ margins in both countries.