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Gold Prices Slumps In International and Domestic Market

Gold  Prices Slumps internationally  toward $1,670 an ounce on Monday, retreating from a three-week high reached in the previous session as the dollar rebounded slightly from Friday’s slump, making greenback-priced bullion more expensive for buyers holding other currencies.

Investors also continued to assess the outlook for US interest rates, while looking ahead to a key US inflation report this week that could influence the size of an expected Federal Reserve rate hike in December.

Markets are currently betting that the Fed will slow the pace of rate increases by delivering a 50 basis point rate hike next month after raising interest rates by an outsized 75 basis point in the last four meetings.

However, a hot inflation print would likely fuel bets for a larger 75 basis point increase, supporting the dollar while pressuring gold.

While domestically Gold prices keep on changing daily in Pakistan, and the 24K per tola gold rate Slumps in Pakistan as per international market today is 139,800. Likewise, 24K per 10 grams gold rate in Pakistan today is 119,800.

Gold Rate 24k Gold 22k Gold
Per Tola Gold Rs 139,800 Rs 128,078
Per 10 Gram Gold Rs 119,800 Rs 109,816
Per Gram Gold Rs 11,980 Rs 10,982


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