Gold up Rs1,200, global market flat - The Express Tribune

AI desk brief

Pakistan gold rose Rs1,200/tola to Rs437,536 and silver hit a fresh all-time high at Rs6,588/tola, even as international gold was broadly flat. Global bullion was held back by a stronger dollar and elevated Treasury yields, partly offset by fading expectations of a near-term Fed hike; spot gold slipped 0.1% to $4,137.79/oz while December futures edged up 0.1% to $4,166.

Markets are pricing a 22% chance of a Fed hike in October and 84% for December ahead of Wednesday’s FOMC minutes, which may set the next near-term catalyst. Analyst Fawad Razaqzada sees scope for a further pullback before buyers return, while Metals Focus remains constructive longer term, expecting new all-time highs in 2027.