Urdu Report Desk
International gold prices dropped to a two-week low on Thursday, October 22, 2026, as rising energy costs fuelled inflation concerns and increased expectations that central banks could keep interest rates high for longer.
Spot gold fell 1.3% to $4,085.29 per ounce during Asian trading, while US gold futures for December delivery declined 1.2% to $4,100.90 per ounce.
Pakistan Gold Prices on October 22
In Pakistan, the reported market rate for 24-karat gold was approximately Rs429,500 per tola on October 22, 2026. The price of 10 grams of 24-karat gold was around Rs368,230.
The rate for 22-karat gold was approximately Rs393,813 per tola. Local gold prices can vary slightly by market and jeweller.
Rising Energy Costs Put Pressure on Gold
Market analysts said higher crude oil prices have raised concerns about inflation. If energy prices remain elevated, central banks may maintain higher interest rates for an extended period.
Higher interest rates tend to weigh on gold because the precious metal does not pay interest or generate regular income. This can make interest-bearing investments more attractive to investors.
Key Technical Levels for Gold
Technical analysts identified $4,073 per ounce as an important support level for gold.
If prices rise above $4,135 per ounce, they could move towards the $4,150-$4,169 range, according to the technical assessment cited in the original report.
Silver, Platinum and Palladium Also Fall
Other precious metals also recorded losses in international markets on Thursday.
Spot silver declined 3.3% to $56.05 per ounce, while platinum fell 2.2% to $1,593.05 per ounce. Palladium dropped 2.7% to $1,057.32 per ounce.
The declines came as investors assessed inflation risks and the potential impact of prolonged high interest rates on precious metals.
