Gold Prices weakened toward $1,740 an ounce on Monday, falling for the fourth straight session, weighed down by hawkish remarks from US Federal Reserve officials who signaled that interest rates could end higher than previously anticipated.
Most notably, St. Louis Fed President James Bullard said last week that the policy rate is not sufficiently restrictive and suggested that it could reach the 5% to 7% range in order to bring down inflation, higher than what the market is currently pricing.
Meanwhile, Atlanta Fed President Raphael Bostic said on Saturday that he is ready to “move away” from large rate hikes at the December meeting, adding that another full percentage point of increase would be sufficient to rein in inflation.
Markets now look ahead to minutes of the central bank’s November meeting, as well as a slew of US economic reports including consumer sentiment, durable goods and new home sales
Gold prices keep on changing daily in Pakistan, and the 24K per tola gold rate in Pakistan today is 146,300. Likewise, 24K per 10 grams gold rate in Pakistan today is 125,500.
The gold rate per tola in Pakistan today remains same as yesterday’s gold rate in Pakistan. Yesterday, on 20th November 2022 per tola gold rate in Pakistan 24K was 146,300. Likewise, the gold rate in Pakistan 24K per 10 grams was 125,400.
While in Pakistan Gold Price As Per sarafah Bazar Association.