Gold held below $1,800 an ounce on Tuesday, remaining under pressure from expectations that the US Federal Reserve will continue raising interest rates well into next year amid its commitment to bring down inflation.
Last week, the Federal Reserve delivered a more moderate 50 basis point rate hike, though it projected a terminal rate of 5.1% next year, higher than previously indicated.
The European Central Bank followed suit, raising its policy rate by 50 basis points and signaling more increases in an effort to bring inflation down to sustainable levels.
Monetary authorities in the UK. Switzerland, Norway and the Philippines also tightened policy further last week.
While Internationally 1 Tola gold price in Pakistan today for 24 karats is 150,500. It remains same as yesterday’s 1 Tola gold price in Pakistan for 24 karat that was 150,500. Likewise, 10-gram gold price in Pakistan today for 24 karats is 129,100. It remains same as yesterday’s 10-gram gold price in Pakistan for 24 karat that was 129,100.
