Gold climbed on Thursday after the Federal Reserve warned of rising inflation and labor market risks fuelling economic uncertainty, while investors awaited the outcome of the US-China trade talks this weekend.

Spot gold rose 0.9% to $3,392.90 an ounce, as of 0416 GMT.

US gold futures firmed 0.2% to $3,399.80.

“The focus in the yellow market was on the statements from the Fed, as they left rates unchanged but flagged risk of higher inflation and unemployment,” said Reliance Securities’ senior commodity analyst Jigar Trivedi.

The Fed held interest rates steady on Wednesday but said risks of higher inflation and unemployment had risen, as its policymakers grapple with the impact of President Donald Trump’s tariffs.

Trump suggested China initiated the upcoming senior-level trade talks between the two countries and said he was not willing to cut import tariffs on Chinese goods to get Beijing to the negotiating table.

“The hotter rhetoric from Trump about trade negotiations with China”, is also helping the market sentiment, Capital.com’s financial market analyst Kyle Rodda said.

“It taps into two key themes which are slower US growth and de-dollarisation.”

Trump is expected to announce a trade deal between the US and Britain on Thursday, the New York Times reported.

The non-yielding bullion, a safeguard against political and financial turmoils, thrives in a low-interest-rate environment.

Gold slips more than 1pc; Fed verdict on tap

Elsewhere, India struck Pakistan and Pakistani Kashmir on Wednesday over the tourist killings in Kashmir last month. Pakistan vowed to retaliate and said it shot down five Indian aircraft.

“If (tension) further escalates…then we might see gold continue to rise and maybe break the previous high that we’ve seen,” said Brian Lan, managing director, GoldSilver Central, Singapore.

Bullion hit a record high of $3500.05 on April 22. Spot silver rose 1.2% to $32.85 an ounce, platinum gained 0.9% to $982.81 and palladium fell 0.3% to $969.93.

KARACHI: Gold prices notably surged on Wednesday, reflecting the global market uptrend, nearing $3,400 per ounce, traders said.

Local market saw an increase by Rs800 per tola and Rs684 per 10 grams due to the global market rise by $8, reaching $3,385 per ounce.

The surge pushed gold rates to Rs356,900 per tola and Rs305,984 per 10 grams, All Pakistan Sarafa Gems and Jewellers Association said.

It is important to highlight that the open market may trade gold and silver at different prices comparing to those fixed by the association.

Domestic silver prices held steady at Rs3,482 per tola and Rs2,985 per 10 grams while the international market traded the white metal at $33 per ounce, according to the association.

Copyright Business Recorder, 2025

NEW YORK: Gold prices fell more than one percent on Wednesday, pressured by a firmer dollar and US-China trade talks optimism, while the focus is on Federal Reserve’s policy decision due later in the day.

Spot gold slipped 1% to $3,395.29 an ounce as of 0957 ET (1357 GMT). US gold futures lost about 0.6% to $3,403.50. The US dollar gained 0.2% against other fiat currencies. A stronger dollar makes gold more expensive for other currency holders. “China and the United States are formally trying to start a conversation on tariffs, igniting optimism in risk markets,” said Bart Melek, head of commodity strategies at TD Securities.

US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China’s economic tsar He Lifeng in Switzerland this weekend for talks that could be the first step toward resolving a trade war disrupting the global economy. Gold, considered a hedge against geopolitical risks, has risen 29.4% so far this year. Bank of America said, “while we see limited upside (for gold) near term, we expect prices to push higher again in second half of 2025, potentially hitting $4,000.”

China’s central bank added gold to its reserves in April for the sixth straight month, official data showed. Meanwhile, the Fed’s policy decision is due at 1400 ET (1800 GMT) today, followed by Chair Jerome Powell’s speech. The market will watch out for cues on policy outlook.

“If the Fed surprises and is a lot more hawkish than the market expects, we think there is strong support above $ 3,100,” Melek added. The Fed in the past had indicated that it was in no hurry to cut rates and market consensus is that there will be no cuts before July. Higher interest rates tend to pressure bullion as it yields no interest.

Elsewhere, spot silver shed 1.4% to $32.81 an ounce, platinum dropped 0.1% to $986.15 and palladium edged 0.7% higher to $981.03.

Gold prices in Pakistan rose on Wednesday in line with their increase in the international market. In the local market, gold price per tola reached Rs356,900 after it gained Rs800.

Similarly, 10-gram gold was sold at Rs305,984 after it registered an increase of Rs684, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola reached Rs356,100 after it gained Rs6,100.

Moreover, the international rate of gold also increased on Wednesday. As per APGJSA, the rate was at $3,385 per ounce (with a premium of $20), an increase of $8 during the day.

Likewise, silver price per tola remained unchanged at Rs3,482.

KARACHI: The gold rally extended into Tuesday, driven by a sharp uptrend in the international market, with prices surpassing $3,350 per ounce, traders said.

Local market posted a mammoth surge by Rs6,100 and Rs5,232, driving gold prices to Rs356,100 per tola and Rs305,300 per 10 grams, respectively, All Pakistan Sarafa Gems and Jewellers Association said.

Domestic silver prices also registered gains by Rs57 and Rs49, pushing rates to Rs3,482 per tola and Rs2,985 per 10 grams, respectively, according to the association.

It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association.

Copyright Business Recorder, 2025

Gold prices in Pakistan rose on Tuesday in line with their increase in the international market. In the local market, gold price per tola reached Rs356,100 after it gained Rs6,100.

Similarly, 10-gram gold was sold at Rs305,300 after it registered an increase of Rs5,232, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, gold price per tola reached Rs350,000 after it gained Rs7,800.

Moreover, the international rate of gold also also increased on Tuesday. As per APGJSA, the rate was at $3,377 per ounce (with a premium of $20), an increase of $61 during the day.

Likewise, silver price per tola reached Rs3,482 after it gained Rs57.

Last week, the global financial markets displayed some stability following a reduction in tariff tensions between the US and its trading partners. Concerns about a potential economic slowdown in the US arose after the release of disappointing ADP data.

The anxiety over a recession intensified as the Q1 GDP figures revealed an unexpected contraction in the economy, attributed to a surge in imports that resulted from tariffs coming into effect in April.

However, market sentiment began to shift with the anticipation of crucial economic reports. On Friday, the Non-Farm Payroll (NFP) figures were released, highlighting the addition of 177,000 jobs in April.

Although the March NFP was revised downwards, the US labour market continued to show resilience, with both reports surpassing the average monthly gains of 150,000 over the past year, indicating strength in the job market. While wage pressures eased, the unemployment rate remained steady at 4.2%, likely providing reassurance to risk assets that began to recover, alleviating the initial recession fears.

This positive shift was reflected by signs of progress in trade negotiations between the US and China.

China appeared to be more responsive to discussions regarding trade issues following Washington’s proposal to discuss 145% tariffs on Chinese imports. However, a crucial point to note is that neither the US nor China has initiated a serious trade dialogue, suggesting that both may be waiting for the other to make the first move.

The stubbornness displayed by these two major global economic powers in addressing trade matters has unsettled the global markets. A sign of this nervousness is the consistent reports of capital outflows from the US for the third week in a row, despite the improving conditions.

The robust US jobs data released on Friday has led to a decrease in expectations for a Federal Reserve rate cut in June, lowering the probability to about 36% from 58%. Additionally, market expectations for a US rate cut have dropped from 100 basis points to nearly 75 basis points.

The Federal Open Market Committee (FOMC) is set to convene on May 7 to decide on interest rates and is anticipated to maintain the current rates. The market sees only a 7% likelihood of a rate cut.

If the Fed opts to keep rates unchanged, attention will shift to the US President’s reactions, making the press conference by Fed Chairman crucial for understanding the Fed’s strategy.

In Europe, the focus will be on the UK as the Bank of England (BOE) meets on Thursday to determine interest rates. The BOE is expected to be less concerned about the tariff situation compared to the Eurozone due to its lower trading volume with the US. Therefore, policymakers are likely to prioritize economic growth and may reduce interest rates by 25 basis points and may possibly give signal to the investors that any future cuts would be gradual.

For the last couple of updates, I have been discussing the potential for a correction in gold prices. In the past 10 days, after reaching $ 3,500, gold has retraced nearly 7%. In last week’s report, gold hit the anticipated target of $ 3,205.

Speculation suggests that the recent drop in gold prices may have been triggered by selling pressures in China, which has been absent from the market due to the May labour holiday. Although there is some optimism regarding a possible trade deal, gold still faces downside risks and is likely to remain volatile due to tariff news and geopolitical developments.

One significant risk for gold is that the farther it declines, the higher the probability of a swift rebound, which vouchers for careful monitoring.

This week, the primary focus will be on the Fed meeting and Chairman Powell’s remarks. Traders will also be attentive to the ISM Services PMI for May, which is due on Monday, and the weekly jobless claims data set to be released on Thursday.

WEEKLY OUTLOOK - May 5-9

GOLD @ $ 3240— This week, if gold doesn’t rise above the $ 3287-95 range, it will continue to face downward pressure. The crucial support level to watch is $ 3168. A break below that would signal a drop to $ 3125.

However, if there is a breakthrough on the upside, gold could reach $ 3335.

EURO @ 1.1296— Key support for the Euro is located near 1.1210. Only a breakdown below this level could lead to a decline towards 1.1160. On the other hand, the Euro needs to rise above 1.1395 to potentially challenge 1.1485.

GBP @ 1.3272— The key downside level to observe is 1.3180, which is expected to remain intact. For the Cable to achieve additional gains, it will need to break above 1.3440 decisively. If it declines l, then watch for 1.3050.

JPY @ 144.95— USD has support at 144.05, and a break below that could trigger a drop to 143.50. Nevertheless, there is still potential for the US Dollar to reach the 146.20-50 range before it starts to decline.

Copyright Business Recorder, 2025

NEW YORK: Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss.

Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday.

Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22.

US gold futures rose 1.3% to $3,262.10. China’s commerce ministry said the US has repeatedly expressed its willingness to negotiate on tariffs and that Beijing’s door is open for talks.

“Gold looks like $3,500 may be a top for a little while, especially if some trade deals start to come through and some risk on appetite starts to break through the kind of negative euphoria that we’ve been seeing since the tariff talks,” said Daniel Pavilonis, senior market strategist at RJO Futures.

Gold prices briefly pared gains earlier in the session after data showed nonfarm payrolls increased by 177,000 jobs last month after rising by a downwardly revised 185,000 in March. A Reuters survey had forecast an increase of 130,000 jobs.

However, the report is backward-looking and it is too early for the labor market to show the impact of US President Donald Trump’s on-and-off-again tariffs policy.

Traders trimmed bets that the Federal Reserve will cut rates as soon as June after the jobs report. Yield on benchmark 10-year Treasury bonds rose. Higher interest rates tend to make non-yielding bullion less appealing to investors.

Spot silver edged 0.1% lower to $32.35 an ounce, platinum rose 1% to $967.70, and palladium gained 0.9% to $949.00. All three metals were on track for weekly declines.

KARACHI: Gold prices continued to fall on Saturday, as world market declined below $3,250 per ounce, traders said.

The precious metal lost further Rs2, 300 to Rs242,200 per tola and Rs1,972 to Rs293,381 per 10 grams, according to All Pakistan Sarafa Gems and Jewelers Association.

Domestic silver prices also dropped by Rs45 and Rs39, settling for Rs3,382 per tola and Rs2,899 per 10 grams, respectively, the association added.

It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association.

World market offered gold bullion at $3,240 per ounce, plunging by $23 while silver was selling at $32 per ounce, the association said.

Copyright Business Recorder, 2025

Gold prices in Pakistan declined on Saturday in line with their decrease in the international market. In the local market, gold price per tola reached Rs342,200 after it shed Rs2,300.

Similarly, 10-gram gold was sold at Rs293,381 after it registered a decrease of Rs1,972, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Friday, gold price per tola reached Rs344,500 after it shed Rs1,300.

The international rate of gold also declined on Friday. As per APGJSA, the rate was at $3,263 per ounce (with a premium of $20), a decrease of $13 during the day.

Meanwhile, silver price per tola remained at Rs3,427 in Pakistan.

KARACHI: Gold prices further dropped on Friday, as global market hovered near $3,250 per ounce, traders said.

The precious metal was trading at Rs344,500 per tola and Rs295,353 per 10 grams after a fall by Rs1,300 and Rs1,114, respectively.

Domestic silver prices held steady at Rs3,427 per tola and Rs2, 938 per 10 grams, All Pakistan Sarafa Gems and Jewelers Association said.

It is important to highlight that the open market may trade gold and silver at different prices as compared to those fixed by the association.

International market registered a decline by $13, dragging down the gold bullion prices to $3,263 per ounce with silver rates standing over $32 per ounce.

Copyright Business Recorder, 2025

Gold prices in Pakistan declined on Friday in line with their decrease in the international market. In the local market, gold price per tola reached Rs344,500 after it shed Rs1,300.

Similarly, 10-gram gold was sold at Rs295,353 after it registered a decrease of Rs1,114, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, gold price per tola reached Rs345,800 after it shed Rs3,400.

The bullion market remained closed on Thursday due to a public holiday on account of Labour Day.

The international rate of gold also declined on Friday. As per APGJSA, the rate was at $3,263 per ounce (with a premium of $20), a decrease of $13 during the day.

Meanwhile, silver price per tola remained at Rs3,427 in Pakistan.

MUMBAI: Gold demand remained lower than normal on Wednesday during an Indian festival when buying gold is considered auspicious as the rally in prices to a record high prompted retail consumers to reduce purchases.

Indians were celebrating Akshaya Tritiya, the second-biggest gold-buying festival after Dhanteras.

“Footfalls in jewellery stores improved from evening but still in volume terms demand was around 15% lower than normal,” Surendra Mehta, secretary at the India Bullion and Jewellers Association (IBJA).

Big retail chains, which were offering discounts on jewellery making charges, were doing comparatively better business than single-store retailers, as near-record high prices stretched consumers’ budgets, Mehta said.

Domestic gold prices hit a record high of 99,358 rupees per 10 grams this month and were around 95,000 rupees on Wednesday, nearly 30% higher since the last Akshaya Tritiya festival.

Despite record-high gold prices, positive consumer sentiment persists, with many exchanging old jewellery for new to manage budgets for festivals and weddings, said Saurabh Gadgil, chairman of PNG Jewellers.

Indian dealers on Wednesday offered a discount up to $20 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies.

Gold demand during Akshaya Tritiya was likely lower in volume but could be the same or slightly higher in value, said Sachin Jain, CEO of the World Gold Council’s Indian operations.

Big and small retailers were offering discounts on jewellery making charges to lure retail buyers. However, many still preferred to buy coins and bars for investment purposes, said a Hyderabad-based jeweller.

“Demand was lower than usual, but still better than what the industry expected. Even with record-high prices, retail buying didn’t take a big hit,” said IBJA’s Mehta.

Gold prices in Pakistan declined on Wednesday, in line with their decrease in the international market. In the local market, gold price per tola reached Rs345,800 after it shed Rs3,400.

Similarly, 10-gram gold was sold at Rs296,467 after it registered a decrease of Rs2,915, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also declined on Wednesday. As per APGJSA, the rate was at $3,276 per ounce (with a premium of $20), a decrease of $34 during the day.

Silver price per tola decreased by Rs70 to settle at Rs3,427 in Pakistan.

On Tuesday, gold price per tola gained Rs2,100 to settle at Rs349,200.

Gold prices in Pakistan gained on Tuesday, in line with their increase in the international market. In the local market, gold price per tola reached Rs349,200 after a single-day gain of Rs2,100.

Similarly, 10-gram gold was sold at Rs299,382 after it registered an increase of Rs1,800, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also increased on Tuesday. As per APGJSA, the rate was at $3,310 per ounce (with a premium of $20), an increase of $21 during the day.

On Monday, gold price per tola declined by Rs1,600 to settle at Rs347,100.

Silver price per tola stood stable at Rs3,497 per tola in Pakistan.

Gold prices decreased in the local and international markets. In Pakistan, gold price per tola reached Rs347,100 after it shed Rs1,600 on Monday.

Similarly, 10-gram gold was sold at Rs297,582 after it registered a decline of Rs1,368, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Friday, gold price per tola shed Rs3,300 to settle at Rs348,700.

The international rate of gold also declined on Monday. As per APGJSA, the rate was at $3,289 per ounce (with a premium of $20), a decrease of $16 during the day.

Meanwhile, silver price per tola remained stable at Rs3,497 per tola.

Gold prices decreased in the local and international markets. In Pakistan, gold price per tola reached Rs348,700 after it shed Rs3,300 on Friday.

Similarly, 10-gram gold was sold at Rs298,950 after it registered a decline of Rs2,833, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Thursday, gold price per tola remained unchanged at Rs352,000.

The international rate of gold also declined on Friday. As per APGJSA, the rate was at $3,305 per ounce (with a premium of $20), a decrease of $33 during the day.

Meanwhile, silver price increased by Rs40 to settle at Rs3,497 per tola.

Gold prices remained stable in Pakistan in line with no change in the international market. In the local market, gold price per tola was unchanged at Rs352,000 on Thursday.

Similarly, 10-gram gold was sold at Rs301,783, unchanged from the previous close, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, gold price per tola reached Rs352,000 after it shed Rs11,700.

The international rate of gold also declined on Thursday. As per APGJSA, the rate was at $3,338 per ounce (with a premium of $20), unchanged from the previous close.

Meanwhile, silver price also remained stable at Rs3,457 per tola.

After hitting record high in the previous session, gold prices decreased in the local market and international markets. In Pakistan, gold price per tola reached Rs352,000 after it shed Rs11,700 on Wednesday.

Similarly, 10-gram gold was sold at Rs301,783 after it registered a decline of Rs10,031, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola hit record high Rs363,700 after a single-day gain of Rs5,900.

The international rate of gold also declined on Wednesday. As per APGJSA, the rate was at $3,338 per ounce (with a premium of $20), a decrease of $116 during the day.

Meanwhile, silver price increased by Rs16 to settle at Rs3,457 per tola.

Gold prices fell on Wednesday as US President Donald Trump retracted his threats to dismiss Federal Reserve Chair Jerome Powell and expressed optimism for a trade deal with China, denting bullion’s safe-haven appeal.

Spot gold fell 0.7% to $3,357.11 an ounce by 0256 GMT. US gold futures fell 1.5% to $3,366.80.

The hint of US-China negotiations and Trump backing down his threat to remove Powell “caused the sell off in gold price to hit a kind of a very extreme oversold level in the short term perspective here,” said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.

US stocks and the dollar rebounded after Trump on Tuesday withdrew his threats to fire Powell after days of intensifying criticism of the central bank chief for not cutting interest rates.

Gold prices continued to soar in Pakistan in line with their increase in the international market. In the local market, the price of 1 tola gold reached record Rs363,700 after a single-day gain of Rs5,900 on Tuesday.

Similarly, 10-gram gold was sold at Rs311,814 after it registered an increase of Rs5,059, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, gold price per tola gained of Rs8,100 to hit then all-time high of Rs357,800.

The international rate of gold also hit a fresh record high on Tuesday. As per APGJSA, the rate was at $3,454 per ounce (with a premium of $20), an increase of $59 during the day.

Meanwhile, silver price remained stable at Rs3,441 per tola.

Gold prices continued their record run in both the local and international markets. In Pakistan, gold price per tola posted a single-day gain of Rs8,100 to hit another all-time high of Rs357,800 on Monday.

Similarly, 10-gram gold was sold at Rs306,755 after it registered an increase of Rs6,944, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Saturday, gold price per tola was unchanged at Rs349,700.

The international rate of gold also hit a fresh record on Monday. As per APGJSA, the rate was at $3,395 per ounce (with a premium of $20), an increase of $69 during the day.

Meanwhile, silver price increased by Rs24 to settle at Rs3,441 per tola.

Gold prices remained stable in Pakistan in line with no change in the international market. In the local market, gold price per tola was unchanged at Rs349,700 on Saturday.

Similarly, 10-gram gold was sold at Rs299,811, unchanged from the previous close, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Friday, gold price per tola decreased by Rs300 to settle at Rs349,700.

The international rate of gold also declined on Saturday. As per APGJSA, the rate was at $3,326 per ounce (with a premium of $20), unchanged from the previous close.

Meanwhile, silver price also remained stable at Rs3,417 per tola.

After hitting record high in the previous session, gold prices decreased in the local market. In Pakistan, gold price per tola reached Rs349,700 after it shed Rs300 on Friday.

Similarly, 10-gram gold was sold at Rs299,811 after it registered a decline of Rs257, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Thursday, gold price per tola hit Rs350,000 for the first time in history.

The international rate of gold also declined on Friday. As per APGJSA, the rate was at $3,326 per ounce (with a premium of $20), an decrease of $3 during the day.

Meanwhile, silver price increased by Rs16 to settle at Rs3,417 per tola.

Gold prices continued to increase on Thursday and reached a fresh record in Pakistan. In the local market, gold price per tola gained Rs2,000 to hit Rs350,000 for first time in the history.

Similarly, 10-gram gold was sold at Rs300,068 after it registered an increase of Rs1,715, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, gold prices soared and reached then record high of Rs348,000 after a single-day rise of Rs8,600.

The international rate of gold also increased on Thursday. As per APGJSA, the rate was at $3,329 per ounce (with a premium of $20), an increase of $19 during the day.

Meanwhile, silver price decreased by Rs59 to settle at Rs3,401 per tola.

Gold prices continued their record run in both the local and international markets. In Pakistan, gold price per tola reached another all-time high of Rs348,000 after a single-day gain of Rs8,600 on Wednesday.

Similarly, 10-gram gold was sold at Rs298,353 after it registered an increase of Rs7,373, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also reached an all-time high on Wednesday. As per APGJSA, the rate was at $3,310 per ounce (with a premium of $20), an increase of $86 during the day.

On Tuesday, gold price per tola gained by Rs600 to settle at Rs339,400.

Silver price increased by Rs63 to settle at Rs3,460 per tola in Pakistan.

NEW YORK: Gold prices gained on Tuesday, helped by safe-haven demand as US President Donald Trump’s tariff plans kept investors wary of trade policy, while an overall weaker dollar also lent support.

Spot gold was up 0.4% at $3,221.32 an ounce as of 11:24 a.m. ET (1524 GMT). Bullion hit a record high of $3,245.42 on Monday. US gold futures rose 0.4% to $3,238.70.

“Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There’s still safe haven demand,” said Jim Wyckoff, senior analyst at Kitco Metals. Federal Register filings on Monday showed that the US administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs.

Trump on Sunday said he would announce the tariff rate on imported semiconductors over the next week.

Gold, used as a safe investment during times of political and financial uncertainty, has risen over 23% so far in 2025 and scaled multiple record highs.

“The rise in the gold price is also partly in line with the continuing weakness of the dollar, which points to a gradual erosion of the US currency’s status as a safe asset — gold is likely to be an alternative for many USD investors,” Commerzbank said in a note. “The short-term monetary policy outlook is providing further support for gold.”

The dollar was trading near a three-year low against its rivals, making gold more attractive for other currency holders. Financial markets expect the US central bank to resume cutting interest rates in June after pausing in January, and reduce its policy rate by 100 basis points this year.

Investors now await comments from US Federal Reserve Chair Jerome Powell, who is scheduled to speak on Wednesday, for more clues on the interest rate path.

Gold prices in Pakistan gained on Tuesday, in line with their increase in the international market. In the local market, gold price per tola reached Rs339,400 after a single-day gain of Rs600.

Similarly, 10-gram gold was sold at Rs290,980 after it registered an increase of Rs514, as per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also increased on Tuesday. As per APGJSA, the rate was at $3,224 per ounce (with a premium of $20), an increase of $6 during the day.

On Monday, gold price per tola declined by Rs1,800 to settle at Rs338,800.

Silver price increased by Rs163 to settle at Rs3,397 per tola in Pakistan.

After maintaining an upward trajectory, gold prices decreased in Pakistan on Monday. In the local market, gold price per tola declined by Rs1,800 to reach Rs338,800.

Likewise, 10-gram gold was sold at Rs290,466 after it registered a decline of Rs1,543, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Saturday, gold price per tola reached a fresh record high at Rs340,600.

The international rate of gold also decreased on Monday. As per APGJSA, the rate was at $3,218 per ounce (with a premium of $20), a decrease of $18 during the day.

Meanwhile, silver price remained unchanged at Rs3,234 per tola.

NEW YORK: Gold blazed past the $3,200 mark on Friday, as a faltering dollar and an escalating US-China trade war stirred recession fears, sending investors flocking to the safety of the yellow metal. Spot gold was up 1.8% at $3,230.75 an ounce at 9:30 a.m. ET (1330 GMT), after hitting a record high of $3,237.56 earlier in the session. Bullion is up over 6% this week. US gold futures climbed 1.8% to $3,234.90.

“Gold is clearly seen as the favoured safe-haven asset in a world upended by Trump’s trade war. The US dollar has depreciated, and US Treasuries are selling off hard, as faith in the US as a reliable trading partner has diminished,” said Nitesh Shah, commodities strategist at WisdomTree.

China increased its tariffs on US imports to 125% on Friday, raising the stakes in a confrontation between the world’s two largest economies. The dollar fell against its peers, making greenback-priced bullion cheaper for overseas buyers. A combination of central bank buying, US Federal Reserve rate cut expectations, geopolitical instabilities and a surge of investor flows into gold-backed ETFs has also supported gold’s rally this year.

US monthly producer prices unexpectedly fell 0.4% in March, but tariffs on imports are expected to drive inflation higher in the coming months.

Traders now bet that the Fed will resume cutting rates in June and see around 90 basis points worth of cuts by the end of 2025. “A minor correction (for gold) wouldn’t surprise, but the path forward is up and away as CPI and PPI gives the Fed more room to cut and will keep downward pressure on the dollar,” said Tai Wong, an independent metals trader.

Non-yielding gold, a traditional hedge against global uncertainties and inflation, also tends to thrive in a low interest rate environment.

But certain developments could cap gold’s rise, UBS analysts said in a note, including “easing geopolitical tensions, a return to more cooperative trade relations, or a significant improvement in the US macro and fiscal backdrop.” Spot silver gained 1.4% to $31.64 an ounce, while platinum added 0.4% to $941.90. Palladium advanced 1.3% to $919.25.

Gold prices continued to soar on Friday and reached a fresh record in Pakistan. In the local market, gold price per tola reached Rs338,800 after a single-day rise of Rs10,000.

Similarly, 10-gram gold was sold at Rs290,466 after it registered an increase of Rs8,573, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Thursday, the gold price per tola reached Rs328,800 after a single-day rise of Rs7,800.

The international rate of gold also increased on Friday. As per APGJSA, the rate was at $3,218 per ounce (with a premium of $20), a record increase of $100 during the day.

Meanwhile, silver price remained unchanged at Rs3,234 per tola.

Globally, safe-haven gold gained nearly 2% and surpassed the key $3,200 mark, spurred by a weaker dollar and recession concerns due to an intensifying trade war between US and China.

“Recession risks are mounting, bond yields are soaring, and the U.S. dollar continues to weaken – all factors reinforcing gold’s role as a crisis hedge and inflation shield,” Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany, told Reuters.

Beijing increased its tariffs on US imports to 125% on Friday, hitting back against US President Donald Trump’s decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to upend global supply chains.

Global stocks fell and the dollar tumbled. A lower dollar makes greenback-priced bullion cheaper for overseas buyers.

Gold prices soared to a fresh record high in Pakistan on Thursday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs328,800 after a single-day rise of Rs7,800.

Similarly, 10-gram gold was sold at Rs281,893 after it registered an increase of Rs6,688, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, the gold price per tola reached Rs321,000 after a single-day increase of Rs3,000.

The international rate of gold also increased on Thursday. As per APGJSA, the rate was at $3,118 per ounce (with a premium of $20), an increase of $78 during the day.

Meanwhile, silver price increased by Rs64 to reach Rs3,234 per tola.

Internationally, gold rose more than 1% on Thursday as investors flocked to safe-haven bullion after the US hiked tariffs on China, the top metals consumer, escalating the already heated trade war, despite a 90-day pause on tariffs for other countries.

Gold, a hedge against global uncertainties and inflation, has risen more than 18% in 2025, driven largely by Trump’s tariff plans, expectations of interest rate cuts by the Federal Reserve, geopolitical tensions in the Middle East and Ukraine, strong central bank buying, and increased investments in gold-backed exchange-traded funds.

Gold prices in Pakistan soared on Wednesday, in line with their increase in the international market. In the local market, the gold price per tola reached Rs321,000 after a single-day increase of Rs3,000.

Similarly, 10-gram gold was sold at Rs275,205 after it registered an increase of Rs2,572, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola fell Rs2,000 in Pakistan.

The international rate of gold also increased on Wednesday. As per APGJSA, the rate was at $3,040 per ounce (with a premium of $20), an increase of $30 during the day.

Meanwhile, silver price increased remained stable at Rs3,170 per tola.

NEW YORK: Gold prices trimmed losses on Thursday after falling over 2% from an all-time high, as a wider market sell-off triggered by US President Donald Trump’s import tariffs infected bullion traders. Spot gold fell 0.8% to $3,108.55 as of 11:27 a.m. EDT (1527 GMT) after earlier scaling a record high $3,167.57. US gold futures fell 1.1% to $3,132.40.

Traders attributed the dip to some profit-taking and margin calls in other asset classes likely prompting investors selling some of their gold holdings to cover losses.

“As the market sold-off on the deleveraging pressures, the market was looking for buying opportunities on the dip,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

“People were selling profitable positions to cover those margins but I think in the long run they’ll continue to look for safe-havens and gold is certainly that.”

Trump’s tariffs drove a sharp slide in financial markets because of concerns they could dampen economic growth. However, gold’s overall trajectory appeared intact, with the safe haven having surged over $500 so far this year.

David Meger, director of metals trading at High Ridge Futures, termed gold’s moves “a pullback or retracement within the sideways to higher trend”.

Central banks are expected to help sustain gold’s rally this year with buying aimed at further diversifying reserves away from the dollar due to risks stemming from Trump’s policies.

But while the rally’s momentum may push prices higher in the first half, a mix of physical and financial market factors could pressure gold by end-2025, HSBC said in a note, forecasting prices to average $3,015.

Silver slipped 5.9% to $32.01, its lowest since March 4. While it usually follows gold, silver is more exposed to wider market fluctuations considering its industrial applications.

It is being pressured by demand concerns given the global selloff, said Phillip Streible, chief market strategist at Blue Line Futures. Platinum fell 3.1% to $952.80, and palladium lost 3.5% to $935.61.

KARACHI: Local and international gold prices further rose to new historic highs on Thursday, as global market inched closer to $ 3,100 per ounce, traders said.

Following Eid-ul-Fitr holidays, the local market resumed gold trading at new highs of Rs 325,500 per tola and Rs 279, 063 per 10 grams.

All Pakistan Sarafa Gems and Jewelers Association quoted an increase in gold prices by Rs 500 and Rs 428, respectively.

International market edged higher by $ 5, settling for fresh record levels of $ 3,089 per ounce while silver was selling at unchanged $ 34.10 per ounce.

Domestic silver prices also held steady at Rs 3,580 per tola and Rs 3,069 per 10 grams, according to the association.

Open market may trade gold and silver at different prices as compared to those fixed by the association.

Copyright Business Recorder, 2025

Gold prices soared to a fresh record high in Pakistan on Thursday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs325,500 after a single-day rise of Rs500.

Similarly, 10-gram gold was sold at Rs279,063 after it registered an increase of Rs428, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The bullion market remained closed during the Eid holidays.

The international rate of gold also increased on Thursday. As per APGJSA, the rate was at $3,089 per ounce (with a premium of $20), an increase of $5 during the day.

Meanwhile, silver price increased remained stable at Rs3,580 per tola.

Gold continued its record run in local and international markets on Saturday. In Pakistan, gold price per tola reached Rs325,000 after a single-day gain of Rs1,620.

Similarly, 10-gram gold was sold at Rs278,635 after it registered an increase of Rs1,389, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also increased on Saturday. As per APGJSA, the rate was at $3,084 per ounce (with a premium of $20), an increase of $10 during the day.

On Friday, gold price per tola increased by Rs2,380 to settle at the then-record high level of Rs323,380.

Meanwhile, silver prices declined by Rs30 and settled at Rs3,580 per tola in Pakistan.

Gold continued its record run in both the local and international markets on Friday. In Pakistan, gold price per tola reached at Rs323,380 after a single-day gain of Rs2,380.

Similarly, 10-gram gold was sold at Rs277,246 after it registered an increase of Rs2,041, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also increased on Friday. As per APGJSA, the rate was at $3,074 per ounce (with a premium of $20), an increase of $22 during the day.

On Thursday, gold price per tola increased by Rs3,200 to settle at Rs321,000.

Meanwhile, silver price rose by Rs30 to settle at Rs3,610 per tola in Pakistan.

Gold prices held steady in Pakistan on Wednesday, as the yellow metal was sold at Rs317,800 per tola, unchanged from the previous close.

As per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA),10-gram gold was sold at Rs272,462.

On Tuesday, gold price per tola reached Rs317,800 after it shed Rs800.

Moreover, the international rate of gold also remained the same on Wednesday. As per APGJSA, the rate was at $3,021 per ounce (with a premium of $20).

Likewise, silver price remained unchanged at Rs3,475 per tola in Pakistan.

Gold prices in Pakistan gained on Monday, in line with their increase in the international market. In the local market, gold price per tola reached Rs318,600 after a single-day gain of Rs600.

Similarly, 10-gram gold was sold at Rs273,148 after it registered an increase of Rs515, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also increased on Monday. As per APGJSA, the rate was at $3,027 per ounce (with a premium of $20), an increase of $5 during the day.

On Saturday, gold price per tola declined by Rs800 to settle at Rs318,000.

Meanwhile, silver price remained unchanged at Rs3,475 per tola in Pakistan.

Gold prices in Pakistan declined further on Saturday, in line with their decline in the international market. In the local market, gold price per tola reached Rs318,000 after a single-day fall of Rs800.

Similarly, 10-gram gold was sold at Rs272,633 after it registered a decline of Rs686, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international rate of gold also decreased on Saturday. As per APGJSA, the rate was at $3,022 per ounce (with a premium of $20), a decline of $9 during the day.

On Friday, gold price per tola decreased by Rs2,000.

Meanwhile, silver price remained unchanged at Rs3,475 per tola in Pakistan.

On Thursday, gold price per tola increased by Rs1,800 to hit an all-time high of Rs320,800.

After hitting record high in the previous session, gold prices fell in Pakistan on Friday, in line with their decline in the international market. In the local market, gold price per tola reached Rs318,800 after a single-day fall of Rs2,000.

Similarly, 10-gram gold was sold at Rs273,319 after it registered a decline of Rs1,712, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Thursday, gold price per tola increased by Rs1,800 to hit then all-time high of Rs320,800.

The international rate of gold also increased on Friday. As per APGJSA, the rate was at $3,031 per ounce (with a premium of $20), a decline of $19 during the day.

Meanwhile, silver price decreased by Rs49 to Rs3,475 per tola in Pakistan.

KARACHI: Gold prices - both locally and globally further grew to new highs on Thursday, as global market hit $ 3,050 per ounce, traders said.

The precious metal continued gaining value, adding further Rs 1,800 and Rs 1,543 to reach new all-time high of Rs 320,800 per tola and Rs 275,034 per 10 grams, respectively, All Pakistan Sarafa Gems and Jewelers Association said.

International market climbed to fresh record levels of $ 3,050 per ounce, soaring by $ 12, while silver was still holding firm at $ 34 per ounce.

Domestic silver prices declined by Rs 31 and Rs 26, settling for Rs 3,524 per tola and Rs 3,021 per 10 grams, respectively, according to the association.

Open market may trade gold and silver at different prices as compared to those fixed by the association.

Copyright Business Recorder, 2025

Gold prices continued to soar in Pakistan in line with their increase in the international rates. In the local market, gold price per tola gained Rs1,800 on Thursday to reach a record Rs320,800.

10-gram gold was sold at Rs275,034 after it registered an increase of Rs1,543, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, the yellow metal soared to Rs319,000 in Pakistan.

The international rate of gold also increased on Thursday. As per APGJSA, the rate was at $3,050 per ounce (with a premium of $20), an increase of $12 during the day.

Moreover, silver price decreased by Rs31 to clock in at Rs3,524.

Gold rush continued in both the local and international markets, with the price per tola of the yellow metal hitting Rs319,000 in Pakistan on Wednesday.

Similarly, 10-gram gold was sold at Rs273,491 after it registered an increase of Rs1,415, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola increased by Rs2,550 to hit then all-time high of Rs317,350.

The international rate of gold also increased on Wednesday. As per APGJSA, the rate was at $3,038 per ounce (with a premium of $20), an increase of $16 during the day.

Gold held above the key $3,000/oz level on Wednesday, trading near a record high hit in the previous session, as Middle East tensions and trade uncertainties lifted bullion’s appeal, while traders awaited the Federal Reserve’s decision later in the day.

Spot gold held its ground at $3,029.70 an ounce, as of 0230 GMT, after hitting an all-time peak of $3,038.26 on Tuesday.

“The current trading environment, where there are worries about tariffs, growth and inflation, is playing to gold’s strengths as an uncertainty hedge,” KCM Trade chief market analyst Tim Waterer said.

Investors are worried about an economic slowdown and elevated risks of recession due to US President Donald Trump’s tariffs, which are widely considered likely to stoke inflation.

Meanwhile, silver price remained unchanged at Rs3,555 per tola in Pakistan.

LONDON: Gold prices traded near record high levels on Thursday, fuelled by demand for safe-haven assets amid tariff concerns and a US inflation report that reinforced expectations of a future rate cut. Spot gold gained 0.5% to $2,946.68 an ounce, as of 1131 GMT. Bullion hit a record high of $2,956.15 on February 24 due to uncertainty caused by US tariffs.

US gold futures were up 0.3% at $2,956.

“Gold continues to be supported by the prospect of a tariff-driven economic slowdown, potentially bringing forward US Fed rate cut expectations,” Ole Hansen, head of commodity strategy at Saxo Bank, said. “I maintain my bullish stance on gold, expecting an economic slowdown or even stagflation to drive demand and price of gold higher.”

US President Donald Trump’s fluctuating trade policies - imposing and delaying tariffs on Canada and Mexico, while raising duties on Chinese goods - have roiled the global financial markets. In response, China and Canada hit back with tariffs of their own. Data on Wednesday showed consumer prices cooling more than analysts’ expectations, indicating that the Fed could cut its interest rate this year.

The Fed last year cut rates by 100 basis points, but has held steady since then. Investors prefer non-yielding gold in a low interest rate environment. Investors now await the US Producer Price Index (PPI) data due at 1230 GMT for further insights into the Fed’s monetary policy. “A softer than expected PPI report may feed Fed cut bets, fuelling gold’s upside gains. However, a hotter-than-expected report could cap gains, inviting bears to challenge support at $2,930,” said Lukman Otunuga, senior research analyst at FXTM. Spot silver was flat at $33.21 an ounce, platinum lost about 1% to $974.45, while palladium dropped 0.2% to $947.17.

“We have upgraded our annual silver price forecasts by 2-4%, on account of the metal’s precious characteristics, despite downgrading our industrial supply-demand balance,” Macquarie said in a note.

Gold prices in Pakistan maintained their upward trajectory, in line with their rise in international rates. In the local market, gold price per tola clocked in at Rs309,300 after it increased by Rs2,800 on Thursday.

Similarly, 10-gram gold was sold at Rs265,174 after it registered an increase of Rs2,400, as per All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, gold price per tola increased by Rs500.

The international rate of gold also increased on Thursday. As per APGJSA, the rate was at $2,942 per ounce (with a premium of $20), an increase of $27 during the day.

Meanwhile, silver price remained unchanged at Rs3,440 per tola.

Internationally, gold prices edged higher on Thursday as uncertainty over tariffs persisted, driving safe-haven demand, while a cooler-than-expected US inflation print also supported bullion by strengthening expectations of rate cuts.

Spot gold was up 0.4% at $2,943.66 an ounce, as of 0300 GMT, while US gold futures firmed 0.2% to$2,951.90.

Gold prices held steady in Pakistan for the second consecutive day, as the yellow metal was sold at Rs306,000 per tola on Tuesday, unchanged from the previous close.

Similarly, 10-gram gold was sold at Rs262,345, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, gold price per tola remained unchanged at Rs306,000.

The international rate of gold also remained the same on Tuesday. As per APGJSA, the rate was at $2,910 per ounce (with a premium of $20).

Meanwhile, silver price clocked in at Rs3,388 per tola.

After jumping in the previous session, gold prices in Pakistan decreased, in line with their fall in international rates. In the local market, gold price per tola clocked in at Rs306,000 after it declined by Rs1,000 Saturday.

As per rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs262,345 after it registered a decrease of Rs858.

On Friday, gold price per tola increased by Rs3,000 to settle at Rs307,000 in Pakistan.

The international rate of gold increased on Saturday. As per APGJSA, the rate was at $2,910 per ounce (with a premium of $20), a decrease of $11 during the day.

Meanwhile, silver price lowered by Rs12 to clock in at Rs3,388 per tola.