Gold prices in Pakistan saw a decline on Thursday, as reported by FXStreet.
The price of 24-carat gold was recorded at 20,713.76 Pakistani Rupees (PKR) per gram, representing a decrease of PKR 23.82 from the previous day’s price of PKR 20,737.59.
Similarly, the price of 24-carat gold per tola dropped to PKR 241,601.28 from PKR 241,879.16 per tola.
| Unit measure | Gold Price in PKR |
|---|---|
| 1 Gram | 20,713.76 |
| 10 Grams | 207,137.64 |
| Tola | 241,601.28 |
| Troy Ounce | 644,270.56 |
FXStreet calculates Gold prices in Pakistan by adapting international prices (XAU/USD) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Global Market Movers: Gold price lacks firm intraday direction amid mixed fundamental cues
- Investors are closely watching key US economic data to gain insight into when the Federal Reserve might start reducing rates, which has led to relatively stable price action in the Gold market over the past two days.
- The upcoming Advance US GDP report is anticipated to show a 2.5% annualized growth rate for the first quarter, down from the previous 3.4%, providing further clarity on the economic landscape.
- Focus will then shift to the core Personal Consumption Expenditures (PCE) Price Index, a key determinant of short-term XAU/USD movement, set to be released on Friday.
- Recent reports of rising Durable Goods Orders in the US and positive consumer inflation figures, coupled with hawkish comments from Fed officials, have bolstered expectations of no rate cuts until at least September, impacting gold prices.
- Improving global risk sentiment stemming from reduced concerns about geopolitical tensions in the Middle East has also resulted in a subdued demand for safe-haven assets like gold.
- A somewhat defensive stance from US Dollar bulls ahead of crucial economic data releases has provided some support to XAU/USD and prevented significant downward pressure.
(An automation tool was used in creating this post.)
Gold FAQs
Gold has historically been valued as a safe-haven asset and a hedge against inflation, making it an attractive investment during uncertain times.
Central banks around the world hold significant amounts of gold as part of their reserves, contributing to the metal’s perceived value and stability.
Gold’s price movements are often influenced by factors such as geopolitical instability, economic data, and currency fluctuations, particularly in relation to the US Dollar.
The price of gold can be impacted by a variety of global events, and its value is closely tied to the strength or weakness of the US Dollar.
Gold prices in Pakistan saw a decline on Thursday, as reported by FXStreet.
The price of 24-carat gold was recorded at 20,713.76 Pakistani Rupees (PKR) per gram, representing a decrease of PKR 23.82 from the previous day’s price of PKR 20,737.59.
Similarly, the price of 24-carat gold per tola dropped to PKR 241,601.28 from PKR 241,879.16 per tola.
| Unit measure | Gold Price in PKR |
|---|---|
| 1 Gram | 20,713.76 |
| 10 Grams | 207,137.64 |
| Tola | 241,601.28 |
| Troy Ounce | 644,270.56 |
FXStreet calculates Gold prices in Pakistan by adapting international prices (XAU/USD) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Global Market Movers: Gold price lacks firm intraday direction amid mixed fundamental cues
- Investors are closely watching key US economic data to gain insight into when the Federal Reserve might start reducing rates, which has led to relatively stable price action in the Gold market over the past two days.
- The upcoming Advance US GDP report is anticipated to show a 2.5% annualized growth rate for the first quarter, down from the previous 3.4%, providing further clarity on the economic landscape.
- Focus will then shift to the core Personal Consumption Expenditures (PCE) Price Index, a key determinant of short-term XAU/USD movement, set to be released on Friday.
- Recent reports of rising Durable Goods Orders in the US and positive consumer inflation figures, coupled with hawkish comments from Fed officials, have bolstered expectations of no rate cuts until at least September, impacting gold prices.
- Improving global risk sentiment stemming from reduced concerns about geopolitical tensions in the Middle East has also resulted in a subdued demand for safe-haven assets like gold.
- A somewhat defensive stance from US Dollar bulls ahead of crucial economic data releases has provided some support to XAU/USD and prevented significant downward pressure.
(An automation tool was used in creating this post.)
Gold FAQs
Gold has historically been valued as a safe-haven asset and a hedge against inflation, making it an attractive investment during uncertain times.
Central banks around the world hold significant amounts of gold as part of their reserves, contributing to the metal’s perceived value and stability.
Gold’s price movements are often influenced by factors such as geopolitical instability, economic data, and currency fluctuations, particularly in relation to the US Dollar.
The price of gold can be impacted by a variety of global events, and its value is closely tied to the strength or weakness of the US Dollar.
