Gold Prices rose toward $1,780 an ounce on Thursday, hitting its strongest levels in two weeks amid a weaker dollar, as US Federal Reserve Chair Jerome Powell said the central bank could slow down the pace of rate increases as soon as December to balance risks.
It confirmed market expectations that the Fed would deliver a smaller 50 basis point rate hike this month, after raising rates by 75 basis point in the last four meetings.
Market pricing also indicated that the Fed funds rate will peak below 5% in May 2023 following Powell’s comments, lower than previous expectations for a peak above 5% in June.
Investors now look ahead to more US data to gauge the health of the world’s largest economy, highlighted by a key monthly jobs report on Friday.
While Gold Prices As Per Internationally Market In Pakistan The Gold prices keep on changing daily in Pakistan, and the 24K per tola gold rate in Pakistan today is 147,400. Likewise, 24K per 10 grams gold rate in Pakistan today is 126,300
While Gold Prices As Per Pakistan Sarafah Bazaar Association in Pakistan.
