Overview
- Local bullion rates fell sharply on Saturday as the All‑Pakistan Gems and Jewellers Sarafa Association reported 24‑carat gold down Rs15,100 per tola to Rs467,936 and 10‑gram gold down Rs12,946 to Rs401,179.
- International bullion dropped about $151 an ounce to roughly $4,454 after US inflation data and Warsh’s Jackson Hole speech shifted market expectations toward higher near‑term interest rates.
- Traders moved into the dollar and Treasuries after the Fed chair said inflation remains too high, which raised the market’s chance of a September rate rise and increased Treasury yields.
- Silver tracked gold lower with APGJSA data showing silver down Rs397 per tola to Rs7,112 and 10 grams to about Rs6,096, reflecting broad selling across precious metals.
- Despite the correction, recent central‑bank buying, jewellery demand and Pakistan’s status as a net gold importer mean price swings are likely to continue and local levels will remain tied to dollar and yield moves.