The Gold prices remained below $1,880 per ounce, hovering close to their lowest levels in a month amid a general strengthening of the dollar.
Additionally, stronger-than-expected employment data in the United States suggested that the Federal Reserve may have more leeway to raise interest rates.
Employers in the United States hired more workers in January than anticipated, according to the Labor Department’s closely watched employment report, with non-farm payrolls rising by 517,000 last month.
Expectations that the Federal Reserve and other central banks will soon come to an end of their tightening cycle were dashed by this report, which increased the level of uncertainty surrounding the US central bank’s next move.
Investors are now anticipating Fed Chair Jerome Powell’s Tuesday speech to the Economic Club of Washington to learn more about the plans for future policy.
While here is the detailed table of gold prices in Pakistan as per Sarafah Bazaar Association today for 5th February 2023.
| Gold Rate | 24k Gold | 22k Gold |
|---|---|---|
| Per Tola Gold | Rs 205,300 | Rs 188,172 |
| Per 10 Gram Gold | Rs 176,010 | Rs 161,341 |
| Per Gram Gold | Rs 17,601 | Rs 16,134 |
