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Internationally Gold Prices Fell To $1620 Per Ounce

Gold: Prices fell toward $1,620 an ounce on Wednesday, heading back to the lowest levels in 2-½-years, weighed down by a resurgent dollar and hawkish remarks from several US Federal Reserve officials.

The dollar scaled fresh 20-year highs against a basket of its major peers on Wednesday after a White House official ruled out a currency agreement among major economies to weaken the greenback.

A chorus of Fed policymakers also indicated the central bank’s determination to do what is necessary to bring down inflation, even at the risk of a recession and further market volatility. While gold is considered as a hedge against inflation and economic uncertainties, higher interest rates raise the opportunity cost of holding non-yielding bullion.

The US economy’s resilience relative to other major economies also weighed on gold prices, as it makes the dollar a more attractive safe-haven asset.

While Gold Rate In Pakistan

As per the Sarafa Association of Pakistan, per tola today gold rate in Pakistan for 24K is 145,100. Similarly, per 10 grams today gold rate in Pakistan for 24K is 124,400. Yesterday, per tola gold rate in Pakistan for 24K was 146,400. Similarly, per 10 grams gold rate in Pakistan for 24K was 125,500.

See below the detailed table of gold rates in Pakistan today, 28th September 2022, for 24K, 22K, 21K, and 18K per tola and per 10 grams.

Gold Rate 24k Gold 22k Gold
Per Tola Gold Rs 145,100 Rs 132,997
Per 10 Gram Gold Rs 124,400 Rs 114,033
Per Gram Gold Rs 12,440 Rs 11,403

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