Gold held above $1,920 an ounce on Friday, hovering near its strongest levels in nine months on firm expectations that the US Federal Reserve will slow the pace of its interest rate hikes.
The metal is also on track to gain for the fifth straight week. Meanwhile, a chorus of Fed officials reiterated their commitment to tighter policy this week, though weakening US data that fueled recession fears tempered rate hike concerns.
Markets are currently expecting the US central bank to downshift to a smaller 25 basis point rate hike in February after delivering a half-percentage point increase in December.
Elsewhere, consumer prices in the UK also fell for the second straight month in December, adding to further signs that inflationary pressures may have finally peaked in Western economies.
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, ,20th 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|