Gold prices extended gains to approach $1895 an ounce on Friday, touching levels not seen since April last year, as the dollar continued to fall and Treasury yields retreated as investors digest the latest CPI report for the US.
The annual inflation rate slowed as expected to the lowest since October of 2021 and the headline CPI fell for the first time since May of 2020, led by a drop in energy costs.
Meanwhile, a drumbeat of Fed officials reiterated their hawkish stance this week, with Fed Chair Jerome Powell saying that “restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy.”
Gold is highly sensitive to the rates outlook as higher interest rates raise the opportunity cost of holding non-yielding bullion.
1 Tola gold price in Pakistan today for 24 karats is 185,600. It has risen as compared to yesterday’s 1 Tola gold price in Pakistan for 24 karat that was 179,600. Likewise, 10-gram gold price in Pakistan today for 24 karats is 159,120. It has risen as compared to yesterday’s 10-gram gold price in Pakistan for 24 karat that was 153,980.
Here is the detailed table of gold rates in Pakistan today for 13th January 2023.
|Gold Rate||24k Gold||22k Gold|
|Per Tola Gold||Rs 185,600||Rs 170,115|
|Per 10 Gram Gold||Rs 159,120||Rs 145,859|
|Per Gram Gold||Rs 15,912||Rs 14,586|