Gold Prices held above $1,900 an ounce on Tuesday, hovering close to its strongest levels since April last year as easing US inflation and related expectations sparked hopes for less aggressive monetary tightening from the Federal Reserve.
The annual inflation rate in the US slowed for a sixth straight month to 6.5% in December, in line with market forecasts. That was also the lowest reading since October 2021, raising hopes that inflation peaked in June at 9.1%.
Investors are mostly expecting the central bank to downshift to a smaller 25 basis point rate hike in February after delivering four 75 basis point increases last year and a half-percentage point increase in December.
Gold is highly sensitive to the rates outlook as higher interest rates raise the opportunity cost of holding non-yielding bullion, and vice versa.
While 1 Tola gold price in Pakistan as per Sarafah Bazaar Association today for 24 karats is 183,800. It has fallen as compared to yesterday’s 1 Tola gold price in Pakistan for 24 karat that was 186,400. Likewise, 10-gram gold price in Pakistan today for 24 karats is 157,580. It has fallen as compared to yesterday’s 10-gram gold price in Pakistan for 24 karat that was 159,810.
Here is the detailed table of gold rates in Pakistan today for 17th January 2023.
| Gold Rate | 24k Gold | 22k Gold |
|---|---|---|
| Per Tola Gold | Rs 183,800 | Rs 168,469 |
| Per 10 Gram Gold | Rs 157,580 | Rs 144,447 |
| Per Gram Gold | Rs 15,758 | Rs 14,445 |
