Overview
- Pakistan’s official retail gold rate climbed to Rs482,936 per tola after a third straight daily jump, which rose Saturday and reflected a rapid local pass-through of the international rally.
- International spot and futures prices have moved above the $4,600–$4,700 per ounce band, driven by a weaker US dollar, falling Treasury yields tied to US buyback plans, and safe‑haven flows.
- India’s gold imports doubled in July to about $4.16 billion, according to the World Gold Council, signaling stronger physical demand that supports prices beyond short‑term speculative moves.
- Authorities in Pakistan have begun enforcement against counterfeit silver production after a Federal Investigation Agency raid in Karachi, and the national jewellers’ association warned of nationwide anti‑counterfeiting operations and heavy fines.
- Near‑term direction depends on US data and policy signals, with markets focused on upcoming US inflation and GDP releases and the Jackson Hole Fed symposium, while higher local rates are raising costs for buyers planning weddings and jewellery purchases.