Internationally Gold Prices Decrease After FED Rate Hike

gold prices

Internationally Gold prices briefly fell below $1655 per ounce before stabilizing around $1665 on Wednesday, hovering close to levels not seen since April 2020, as the Federal Reserve delivered a 75bps hike while signaling larger increases in the next few months.

A strong dollar and treasury yields rising to historic levels have increased the opportunity cost of non-yield-baring
assets, making gold less attractive.

The US 10-year Treasury note yield broke briefly above the 3.61% mark for the first time since April 2011 after
the Federal Reserve ratcheted up its campaign against inflation by raising its federal-funds rate by 0.75 percentage points.

A series of interest rate decisions worldwide are widely expected to fall in line with the Fed’s hawkish stance.
European Central Bank President Christine Lagarde also said on Tuesday that the ECB might need
to raise interest
rates to restrictive levels to stem demand and combat surging inflation.

While Instead of Internationally Gold Prices ,In Pakistan  As per Sarafa Association of Pakistan, per tola today gold rate
in Pakistan for 24K is 150,000. Similarly, per 10 grams today gold price in Pakistan for 24K is 128,600. Read More,,