Pakistan today remains same as yesterday’s gold rate on 28th August 2022 per tola gold rate 24K was 143,500. Likewise, the gold rate in Pakistan 24K per 10 grams was 123,100.
The 22K per tola gold rate today is 131,606. Likewise, 22K per 10 grams gold rate today is 112,841. Yesterday, per tola gold rate in Pakistan 22K was 131,606. Likewise, the gold rate 22K per 10 grams was 112,841.
Internationally Gold Hits 1-Month Low on Rate Hike Fears
Gold prices weakened past $1,730 an ounce on Monday, hitting the lowest levels in a month, as US Federal Reserve Chair Jerome Powell delivered a stern commitment to combat inflation with higher interest rates in a policy speech at the Jackson Hole conference late last week.
Powell warned strongly against prematurely loosening policy amid data showing possible signs of peak inflation, noting that the Fed’s focus is broader than a month or two of data and that it will continue pushing ahead until inflation moves down closer to its 2% target.
Over the weekend, European Central Bank policymakers also made the case for a more aggressive response against surging inflation, and are reportedly discussing a bigger 75 basis point rate hike in September.
While gold is widely considered as a hedge against inflation and economic uncertainties, higher interest rates raise the opportunity cost of holding non-yielding bullion, denting its appeal.
