Gold prices in Pakistan experienced a decline on Tuesday, as reported by FXStreet.
The price of 24-carat Gold dropped to 20,641.32 Pakistani Rupees (PKR) per gram, a decrease of PKR 199.04 from the previous day’s price of PKR 20,840.36.
The price for 24-carat Gold also decreased to PKR 240,756.27 per tola from PKR 243,077.87 per tola.
| Unit measure | Gold Price in PKR |
|---|---|
| 1 Gram | 20,641.32 |
| 10 Grams | 206,413.17 |
| Tola | 240,756.27 |
| Troy Ounce | 642,017.20 |
FXStreet provides Gold prices in Pakistan by converting international prices (XAU/USD) to local currency and measurement units. Prices are updated daily based on current market rates. Local rates may slightly differ from the referenced prices.
Global Market Movers: Gold price impacted by market trends and economic factors
- Iran’s decision not to retaliate against an Israeli missile strike led to decreased demand for Gold as a safe-haven asset for the second consecutive day.
- Strong US economic data and hawkish remarks from the Federal Reserve caused investors to revise their expectations for interest rate cuts, influencing Gold prices.
- Market expectations suggest the Fed may initiate a rate-cutting cycle in September, with less aggressive cuts compared to the central bank’s projections.
- The steady yield on the US 10-year government bond and a strong US Dollar have put downward pressure on the XAU/USD pair.
- Predictions of synchronized interest rate cuts by major central banks later in the year could provide support to Gold amid concerns of global economic slowdown.
- Upcoming economic data releases, including global PMI figures and US GDP data, are anticipated to impact Gold prices in the near term.
(Automated tools were used in generating this content.)
Gold FAQs
Gold has historically served as a store of value, medium of exchange, and safe-haven asset, offering protection during turbulent times.
Central banks hold significant Gold reserves to enhance currency stability and trust in their economies, with emerging economies increasing their reserves in recent years.
Gold’s price movement is influenced by various factors, including geopolitical events, interest rates, currency values, and market sentiment.
The price of Gold is often inversely related to the US Dollar and other key assets, with market dynamics determining its value.
Gold prices in Pakistan experienced a decline on Tuesday, as reported by FXStreet.
The price of 24-carat Gold dropped to 20,641.32 Pakistani Rupees (PKR) per gram, a decrease of PKR 199.04 from the previous day’s price of PKR 20,840.36.
The price for 24-carat Gold also decreased to PKR 240,756.27 per tola from PKR 243,077.87 per tola.
| Unit measure | Gold Price in PKR |
|---|---|
| 1 Gram | 20,641.32 |
| 10 Grams | 206,413.17 |
| Tola | 240,756.27 |
| Troy Ounce | 642,017.20 |
FXStreet provides Gold prices in Pakistan by converting international prices (XAU/USD) to local currency and measurement units. Prices are updated daily based on current market rates. Local rates may slightly differ from the referenced prices.
Global Market Movers: Gold price impacted by market trends and economic factors
- Iran’s decision not to retaliate against an Israeli missile strike led to decreased demand for Gold as a safe-haven asset for the second consecutive day.
- Strong US economic data and hawkish remarks from the Federal Reserve caused investors to revise their expectations for interest rate cuts, influencing Gold prices.
- Market expectations suggest the Fed may initiate a rate-cutting cycle in September, with less aggressive cuts compared to the central bank’s projections.
- The steady yield on the US 10-year government bond and a strong US Dollar have put downward pressure on the XAU/USD pair.
- Predictions of synchronized interest rate cuts by major central banks later in the year could provide support to Gold amid concerns of global economic slowdown.
- Upcoming economic data releases, including global PMI figures and US GDP data, are anticipated to impact Gold prices in the near term.
(Automated tools were used in generating this content.)
Gold FAQs
Gold has historically served as a store of value, medium of exchange, and safe-haven asset, offering protection during turbulent times.
Central banks hold significant Gold reserves to enhance currency stability and trust in their economies, with emerging economies increasing their reserves in recent years.
Gold’s price movement is influenced by various factors, including geopolitical events, interest rates, currency values, and market sentiment.
The price of Gold is often inversely related to the US Dollar and other key assets, with market dynamics determining its value.
