Gold prices fell below $1,770 an ounce on Thursday, sliding for the second straight session as the dollar was buoyed by stronger-than-expected US retail sales data that clouded the outlook for inflation and indicated the need for more interest rate hikes.
Federal Reserve officials continued to signal a firm hawkish stance, with San Francisco Fed President Mary Daly emphasizing that a pause is “off the table,
” while Kansas City Fed President Esther George said that policymakers must be “careful not to stop too soon”
On hiking rates and that achieving a soft landing might be difficult. Gold also declined as the safe-haven flows driven by the latest geopolitical concerns started to fade.
Gold prices keep on changing daily in Pakistan, and the 24K per tola gold rate in Pakistan today is 147,600. Likewise, 24K per 10 grams gold rate in Pakistan today is 126,600.
| Gold Rate | 24k Gold | 22k Gold |
|---|---|---|
| Per Tola Gold | Rs 147,600 | Rs 135,348 |
| Per 10 Gram Gold | Rs 126,600 | Rs 116,049 |
| Per Gram Gold | Rs 12,660 | Rs 11,605 |
Domestically Gold Prices As Per Pakistan Sarafah Bazaar Association In Pakistan
| Gold Rate | 24k Gold | 22k Gold |
|---|---|---|
| Per Tola Gold | Rs 159,500 | Rs 146,208 |
| Per 10 Gram Gold | Rs 136,800 | Rs 125,393 |
| Per Gram Gold | Rs 13,680 | Rs 12,540 |
Also Copper futures fell below $3.8 per pound from the five-month high of $4 hit on November 11th, pressured by concerns of lower demand. Data from top consumer China showed that industrial production slowed more than expected in October, while house prices decline for the sixth consecutive month and further emphasized low demand for the country’s highly indebted property developers.
