Gold prices fell to around $1,900 an ounce on Wednesday, sliding for the third straight session as the dollar rebounded from recent lows, while bets for a slower pace of interest rate hikes from the US Federal Reserve limited the losses.
Latest data showed that US consumer inflation eased further to 6.5% in December, signaling that prices may have peaked at 9.1% in June and bolstering expectations that the Fed will downshift to a smaller 25 basis point rate increase at its February meeting.
Investors now look ahead to US producer inflation and retail sales data due later on Wednesday that could provide more clues on the US central bank’s policy tightening path.
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 As per the Sarafa Association of Pakistan, per tola today gold rate in Pakistan for 24K is 185,100. Similarly, per 10 grams today gold rate in Pakistan for 24K is 158,700. Yesterday, per tola gold rate in Pakistan for 24K was 183,800. Similarly, per 10 grams gold rate in Pakistan for 24K was 157,580.
See below the detailed table of gold rates in Pakistan today, 18th January 2023, for 24K, 22K, 21K, and 18K per tola and per 10 grams.
|Gold Rate||24k Gold||22k Gold|
|Per Tola Gold||Rs 185,100||Rs 169,666|
|Per 10 Gram Gold||Rs 158,700||Rs 145,474|
|Per Gram Gold||Rs 15,870||Rs 14,547|