Gold stays stable as investors eye rate cut

Gold prices in Pakistan remained stable on Monday, with the local market seeing bullion per tola traded at Rs428,862. Similarly, 10-gram gold was sold for Rs367,680, according to the All-Pakistan Gems and Jewellers Sarafa Association. On Saturday, gold per tola had risen by Rs2,300 to reach Rs428,862. The stability on Monday comes amid global market support, driven by growing expectations of a Federal Reserve rate cut next month and a weaker US dollar. Internationally, spot gold rose 0.6% to $4,091.45 per ounce as of 10:53 am EST (1553 GMT), while US gold futures for December delivery gained 0.3% to $4,089.80 per ounce, as per Reuters. Adnan Agar, Director of Interactive Commodities, noted that gold was trading in a narrow range.