Overview
- Global spot and futures gold climbed into the mid‑$4,600s and briefly approached $4,700 per ounce on Monday, reflecting a sharp late‑August rally in international bullion markets.
- Pakistan’s trade association reported multi‑session jumps that lifted 24K gold to roughly Rs482,936–Rs487,136 per tola after successive single‑day increases of about Rs13,700, Rs5,200 and Rs5,700.
- India’s domestic market tracked the move with MCX futures and retail 24K rates above ₹1.63 lakh per 10 grams and intraday futures prints near ₹1.64 lakh.
- Traders and analysts cite a softer U.S. dollar, Treasury plans to expand long‑dated bond buybacks, expectations about Fed policy at Jackson Hole, and heightened West Asia tensions as the main drivers.
- Silver stayed broadly steady at domestic levels around Rs7,379 per tola while Pakistan’s Federal Investigation Agency moved to crack down on counterfeit silver bars after a Karachi raid, a step that could affect market integrity and local supply.