Gold Prices weakened past $1,640 an ounce on Monday, hitting the lowest levels since April 2020, weighed down by a rallying dollar and surging Treasury yields that reflected expectations for tighter monetary policy and slowing global growth.
The US Federal Reserve led a raft of central bank rate hikes this week, delivering its third straight 75 basis point rate increase to bring down inflation.
The European Central Bank is also expected to raise rates further, with ECB board member Isabel Schnabel saying Thursday that elevated inflationary pressures in the euro zone are likely to be more persistent than anticipated. Higher interest rates raise the opportunity cost of holding non-yielding bullion, denting its appeal. Gold also lost its shine as a store of value in times of economic uncertainties as the US’ relative economic strength and the Fed’s aggressive stance against inflation lifted the dollar at the expense of other safe-haven assets.
While in Pakistan Today Gold Rates 26 SEP 2022
Gold prices keep on changing daily in Pakistan, and the 24K per tola gold rate in Pakistan today is 147,500. Likewise, 24K per 10 grams gold rate in Pakistan today is 126,500.
|Gold Rate||24k Gold||22k Gold|
|Per Tola Gold||Rs 147,500||Rs 135,241|
|Per 10 Gram Gold||Rs 126,500||Rs 115,957|
|Per Gram Gold||Rs 12,650||Rs 11,596|