Gold Price in international market below $1,640 an ounce on Thursday, holding losses from the previous session after the Federal Reserve’s messaging turned out to be more hawkish than markets anticipated.
After the Fed delivered its fourth straight 75 basis point rate hike, Fed Chair Jerome Powell said that the central bank has “ways to go with interest rates before we get to the level that’s sufficiently restrictive” and that it is “premature to discuss pausing.”
However, Powell added that a slower pace of rate increases could soon be appropriate. The Bank of England is also expected to raise interest rates by 75 basis points on Thursday, then temper its hawkish tone due to rising risk of a recession.
Gold prices hovered close to low levels not seen since April 2020, as a general rise in interest rates increases the opportunity cost of holding non-yielding bullion.
Gold price as per international market keep on changing daily in Pakistan, and the 24K per tola gold rate in Pakistan today is 136,300. Likewise, 24K per 10 grams gold rate in Pakistan today is 116,900.
| Gold Rate | 24k Gold | 22k Gold |
|---|---|---|
| Per Tola Gold | Rs 136,300 | Rs 124,978 |
| Per 10 Gram Gold | Rs 116,900 | Rs 107,158 |
| Per Gram Gold | Rs 11,690 | Rs 10,716 |
Gold Price As Per Sarafah Bazar Association Of Gold In Pakistan
| Gold Rate | 24k Gold | 22k Gold |
|---|---|---|
| Per Tola Gold | Rs 151,200 | Rs 138,600 |
| Per 10 Gram Gold | Rs 129,630 | Rs 118,867 |
| Per Gram Gold | Rs 12,963 | Rs 11,886 |
