Gold prices may increase up to 40% to hit all-time high in coming months?
Why this matters: local context for readers following news across Pakistan and the region.
Pakistani market recorded massive fluctuations in gold prices in some previous sessions as they dropped significantly due to the US-Israel war against Iran. However, a latest forecast issued by the J.P. Morgan said the gold price may rise by 40 percent in coming months to reach all-time high in 2026. J.P. Morgan Global Research forecasts prices per ounce to average $6,000/oz by the final quarter of 2026, rising toward $6,300/oz by the end of 2027. Yet Greg Shearer, head of Base & Precious Metals at J.P. Morgan, acknowledges that recent investor interest has declined. “Gold is stuck in a bit of a technical no-man’s land, trudging above the 200-day moving average around $4,340/oz and capped for now below the 50-day moving average at $4,730/oz. Amid this sideways plod, and with growing worries that the Fed might have to respond to energy-driven inflation with hikes, gold is on the back burner for most investors at the moment,” Shearer said. Reports said that if the forecast proves accurate, gold prices in both international and Pakistan markets could reach new record levels. Gold Prices in Pakistan A day earlier, the price of 24-karat gold in Pakistan plunged by Rs14,900 per tola on Friday, settling at Rs438,036, as a sharp fall in international bullion rates triggered a significant decline in the local market. The gold market data showed that the gold prices came under pressure after the precious metal recorded a major decline in the international market. The price of gold per ounce fell by $149, bringing it down to $4,156. The drop in global prices was immediately reflected in Pakistan’s domestic bullion market, where investors and traders witnessed one of the steepest single-day declines in recent weeks. Alongside the fall in per-tola rates, the price of 10 grams of 24-karat gold also decreased substantially. It shed Rs13,410 to settle at Rs374,205. Bullion dealers said local gold prices generally follow trends in international markets, while exchange rate fluctuati