US EditionGold Hits Rs410,278/tola Amid Global Rally
Gold futures reached nearly $3,900 per troy ounce as investors seek safety amid trade war impacts and a shutdown affecting 750,000 federal workers.
- As markets closed Tuesday, New York spot gold reached $3,858.45 per troy ounce before the U.S. government shutdown began overnight, with futures climbing toward $3,900 by midday.
- Tariffs and deteriorating hiring data have pushed safe‑haven demand as President Donald Trump's steep tariffs since the start of 2025 strain businesses and weak jobs boost bets on Federal Reserve rate cuts this month.
- Central‑bank purchases and ETF demand have supported bullion as September monthly ETF inflows were the largest in three years, boosting physical and paper gold demand.
- Roughly 750,000 federal workers face furloughs, and the Labor Department's jobs report scheduled for Friday is likely to be delayed amid the Congressional funding impasse.
- With gold up over 47% this year, Investopedia projects a $4,365 target, but Michael Hsueh warns a stronger dollar and hawkish Fed moves could limit gains.
24 Articles
24 Articles
Everything's supposedly rosy on Wall Street—but gold is quietly rallying higher as investors seek safety in government shutdown
Wall Street is brushing off recession risks and the ramifications of a government shutdown, with stocks at healthy highs and interest rate cuts expected soon. Yet gold is telling a different story: prices have surged more than 45% over the past year to nearly $3,870, as investors and central banks pile in for safety. Goldman Sachs now sees gold prices reaching $4,300 by late 2026, with analysts expecting buyers will be driven by diversification …
Gold skyrockets to Rs410,278 per tola
KARACHI: The prices of one-tola and 10-gram gold (24k) rose to an all-time high of Rs410,278 and Rs351,747, respectively, on Monday, increasing by Rs3,500 and Rs3,001 compared to Saturday. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the domestic surge followed a $35 per ounce rise in international gold prices, which climbed to $3,890 per ounce. APSGJA President Qasim Shikarpuri said that despite minor correcti…
Gold hits Rs410,278/tola amid global rally
Gold prices in Pakistan surged to fresh record highs on Wednesday, tracking the global rally driven by a weaker dollar, safe-haven demand, expectations of a US rate cut following softer jobs data and a looming government shutdown. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the local price of gold rose by Rs3,500 per tola to reach Rs410,278, while the 10-gram rate climbed by Rs3,001 to settle at Rs351,747. On Tu…
Gold prices soar to new records amid U.S. government shutdown
As uncertainty deepens amid the U.S. government's first shutdown in almost seven years, the gold frenzy continues to climb to new heights. The going price for New York spot gold hit a record $3,858.45 per troy ounce — the standard for measuring precious metals — as of market close Tuesday,…
In the USA, the "shutdown" begins and the labour market weakens. Nevertheless, Wall Street is going uphill. Especially the gold price benefits from the uncertainty. Pfizer is also on the rise after a deal with US President Trump.
Coverage Details
Bias Distribution
- 39% of the sources lean Left, 38% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
