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Gold eases despite global rally | The Express Tribune
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY
KARACHI:
Gold prices in Pakistan eased Rs1,500 on Tuesday, diverging from a powerful rally in international markets where bullion surged beyond the historic $5,000 per ounce threshold, driven by intensifying economic and geopolitical uncertainty and sustained safe-haven demand.
In the domestic market, the price of gold per tola declined by Rs1,500 to Rs530,562, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold fell by Rs1,286 to Rs454,871.
The modest pullback followed Monday’s sharp rally, when gold surged by Rs10,900 per tola to hit a record Rs532,062, reflecting the strong transmission of the global price breakout into local markets.
Internationally, spot gold rose 1.3% to $5,079.62 per ounce by 1441 GMT, after touching an all-time high of $5,110.50 on Monday and closing at $5,014.29, according to Reuters. The metal has now gained more than 62% since 2025, marking one of the strongest annual rallies in modern market history. Analysts attribute the surge to persistent safe-haven demand amid geopolitical instability, currency volatility, and heightened macroeconomic uncertainty.
Meanwhile, silver in Pakistan rose by Rs212 to Rs11,640 per tola, reflecting broader volatility across precious metal markets as investors reposition portfolios in response to global risk dynamics.
Commenting on market conditions, Adnan Agar, Director at Interactive Commodities, said gold was showing signs of short-term consolidation after the sharp rally. “Gold was underwhelmed, similar to yesterday (Monday). It hit highs near $5,100 and was later trading around $5,085. Yesterday’s $5,110 level can be considered an all-time high,” he said.
Agar added that investor positioning remains cautious ahead of the US Federal Reserve’s monetary policy decision, due early Wednesday (Pakistan time). “The US monetary policy announcement will determine the next direction for gold. For now, a correction phase seems to be forming. Silver and platinum are already down, while gold has paused. A new direction will be set after the Fed’s decision,” he noted.
Globally, the rally in gold has been fueled by aggressive central bank accumulation, growing de-dollarisation strategies, and escalating geopolitical risk. Analysts say sovereign demand has now become a structural driver of the gold market rather than a cyclical one.
With prices at record highs, buying activity has surged in Asian markets, particularly in Shanghai and Hong Kong, where jewellery stores and bullion dealers have reported heavy footfall. Analysts at Societe Generale expect gold to reach $6,000 per ounce by year-end, while Citi has upgraded its short-term silver price forecast to $150 per ounce, reinforcing bullish sentiment across precious metal markets.
Meanwhile, the Pakistani rupee edged up 0.01% in the inter-bank market on Tuesday, closing at 279.82 per dollar, a gain of Rs0.03 from Monday’s close at 279.85.
India’s budget focuses on infrastructure and defence spending and tax breaks for data-centre investments.
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New Income Tax Act 2025 to come into effect from April 1, key reliefs announced in Budget 2026
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said that the Income Tax Act 2025 will come into effect from April 1, 2026, and the I-T forms have been redesigned such that ordinary citizens can comply without difficulty for ease of living.
The new measures include exemption on insurance interest awards, nil deduction certificates for small taxpayers, and extension of the ITR filing deadline for non-audit cases to August 31.
Individuals with ITR 1 and ITR 2 will continue to file I-T returns till July 31.
“In July 2024, I announced a comprehensive review of the Income Tax Act 1961. This was completed in record time, and the Income Tax Act 2025 will come into effect from April 1, 2026. The forms have been redesigned such that ordinary citizens can comply without difficulty, for) ease of living,” she said while presenting the Budget 2026-27
In a move that directly eases cash-flow pressure on individuals making overseas payments, the Union Budget announced lower tax collection at source across key categories.
“I propose to reduce the TCS rate on the sale of overseas tour programme packages from the current 5 per cent and 20 per cent to 2 per cent without any stipulation of amount. I propose to reduce the TCS rate for pursuing education and for medical purposes from 5 per cent to 2 per cent,” said Sitharaman.
She clarified withholding on services, adding that “supply of manpower services is proposed to be specifically brought within the ambit of payment contractors for the purpose of TDS to avoid ambiguity”.
“Thus, TDS on these services will be at the rate of either 1 per cent or 2 per cent only,” she mentioned during her Budget speech.
The Budget also proposes a tax holiday for foreign cloud companies using data centres in India till 2047.
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
New Tax Regime vs Old Tax Regime | New Income Tax Rules | Income Tax 2026
Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
Also See: Stock Market Updates Today
The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
Also Read: Budget 2026 Live Streaming
Here are the Live Updates of Union Budget 2026:
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