Gold: Internationaly Gold rate weakened below $1,630 an ounce on Thursday, approaching levels last seen in April 2020, weighed down by rallying dollar and Treasury yields on expectations that the US Federal Reserve will continue raising interest rates aggressively until inflation abates.
A Fed report released on Wednesday pointed to a weakening outlook for economic conditions in the US due to high inflation and rising interest rates. Still, markets are currently priced for another 75 basis point rate hike next month, with a chorus of hawkish statements from US policymakers hinting at an even higher peak for rates supporting such a view.
Gold also continued to underperform as a safe-haven asset despite persistent inflationary pressures and mounting risks of a global recession, as rising US interest rates drove investors to seek shelter in the dollar.
While In Pakistan Gold Rate As Per International Price Is :
The gold rate per tola in Pakistan today remains same as yesterday’s gold rate in Pakistan. Yesterday, on 19th October 2022 per tola gold rate in Pakistan 24K was 135,800. Likewise, the gold rate in Pakistan 24K per 10 grams was 116,400.
Gold prices keep on changing daily in Pakistan, and the 24K per tola gold rate in Pakistan today is 135,800. Likewise, 24K per 10 grams gold rate in Pakistan today is 116,400.
