Gold prices in Pakistan: Prediction for next 30 days hints global shift
Gold prices in Pakistan remained unchanged on Tuesday. The local gold price per tola stood at Rs477,162 during the day.
Also read: Pakistan Railways sets launch date of Awam Express ahead of Eidul Azha
Similarly, 10-gram gold was sold at Rs409,089, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The market showed no new change in daily trading.
Previous Day Market Movement
On Monday, the gold price per tola had reached Rs477,162 after gaining Rs900 in a single day. This shows short-term stability despite recent fluctuations.
Global Gold Price Forecast for May 2026
In May 2026, gold prices are expected to range between $4,380.00 and $5,100.00. At the beginning of the month, the price is projected to stand at around $5,041.00.
Experts remain optimistic and expect prices to reach the $5,400.00–$6,000.00 range by the end of the year. This rise is linked to geopolitical tensions and continued central bank gold buying.
Geopolitical Tensions Driving Market Uncertainty
Market participants are closely monitoring global tensions, especially reports involving possible US military briefings on Iran. The situation has increased uncertainty in international markets.
US President Trump said that the United States would continue its naval blockade of Iran until a nuclear agreement is reached. The ongoing Middle East crisis has also affected investor confidence.
The near-total closure of the Strait of Hormuz is raising further concerns in global trade. Traders are now adjusting expectations for interest rate changes.
US Federal Reserve Policy and Market Reaction
As expected, the US Federal Reserve kept interest rates unchanged. However, four policymakers showed disagreement, reflecting internal policy differences.
Global Gold Demand Trends and Investment Flow
According to the World Gold Council (WGC), global gold demand hit a record high in early 2026. Total demand reached 1,230.9 tonnes, supported by strong investment activity.
"Bar and coin demand totaled 474 tonnes, up 42% year-on-year and marking the second-highest quarterly figure on record. Asian investors were the primary drivers of this growth, actively purchasing gold investment products," the experts added.
Despite yearly growth, total demand fell 6% on a quarterly basis due to market volatility. This shows uneven performance in the gold sector.
"Inflows into gold ETFs continued in the first quarter (+62 tonnes), but were significantly lower than in the exceptionally strong first quarter of 2025 (+230 tonnes), due to substantial March outflows from US funds," the WGC noted.
Central Banks and Jewellery Market Trends
"Central banks made net purchases of 244 tonnes of gold in the first quarter, up 3% year-on-year. At the same time, there was a notable increase in sales during the quarter," the organization said.
The WGC also reported a 23% drop in global jewellery demand due to high gold prices. Demand stood at 335 tonnes during the quarter.
Outlook for Gold Prices Ahead
Experts believe geopolitical tensions will continue supporting gold demand in 2026. However, interest rate decisions may limit major price jumps in the short term.
According to CME Group, there is only a 2.6% chance of a rate cut in June. Most traders expect interest rates to remain unchanged, which could keep gold movement steady.
Gold prices are currently stable in Pakistan but global signals are mixed. Geopolitical tensions and central bank buying are supporting long-term demand. However, high interest rates and uncertain global policy are keeping short-term growth limited.
