Gold prices in Pakistan rose on Tuesday, according to the data collected by FXSTREET.
The price of gold was 29,312.23 Pakar rupees (PKR) per gram, an increase compared to 29,224.33 PKR on Monday.
The price of gold has risen to 341,898.90 per PKR from the PKR 340,866.80 for each TOLA in the previous day.
| Unit | Gold price in PKR |
|---|---|
| 1 gram | 29,312.23 |
| 10 grams | 293,130.00 |
| Tire | 341,898.90 |
| Specify an ounce | 911,734.00 |
Daily Digest Market Movers: Certified Gold Prices by high US Treasury revenues
US Treasury bonds increase, as Treasury bonds in the United States increase for 10 years seven -basis points to 4.453 %. Meanwhile, the real returns in the United States are also fixed at 2.163 %, as shown in the securities protected in the treasury in the United States for 10 years.
The US consumer price index in April is expected to remain unchanged at 2.4 % on an annual basis, according to economists. With the exception of the volatile items, the basic consumer price index is expected to remain unchanged at 2.8 % on an annual basis.
The World Gold Council revealed that the Chinese People’s Bank (PBOC) added Tanny to its golden reserves in April – for the sixth consecutive month. Poland National Bank (NBP) increased by 12 tons in April to 509 tons; While the Czech National Bank increased its reserves by 2.5 tons in April.
The exchange markets have been reduced so far in the first 25 basis points of the Federal Reserve (BPS) for the July meeting, and they expect an additional discount at the end of the year.
FXSTREET is calculated gold prices in Pakistan through international prices (USD/PKR) with local currency and measurement units. Prices are updated daily based on the market prices that were taken at the time of publication. Prices are only to return to them and local prices can diverge a little.
Common Gold questions
Gold played a major role in human history, as it was widely used as a store for value and exchange. Currently, regardless of its brilliance and use of jewelry, the precious metal is widely seen as a safe asset, which means it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against currency decline because it does not depend on any specific source or government.
Central banks are the largest gold holders. In their goal to support their currencies at troubled times, central banks tend to diversify their reserves and buy gold to improve the powerful power and currency. High gold reserves can be a source of confidence to the dissolved country. Central banks added 1136 tons of gold worth $ 70 billion to their reserves in 2022, according to the data of the Golden Golden Council. This is the highest annual purchase since the start of the records. Central banks of emerging economies such as China, India and Turkey increase their gold reserves.
Gold has a counter -relationship with the US dollar and the United States Treasury, which is one of the main reserves and safe assets. When the dollar decreases, gold tends to rise, allowing investors and central banks to diversify their assets at turbulent times. Gold is inversely associated with the origins of the risk. The assembly in the stock market weakens the price of gold, while sales in the most dangerous markets tend to prefer precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can escalate the price of gold due to its safe situation. As a lower asset than the return, gold tends to rise with low interest rates, while the high cost of money usually reaches the yellow metal. However, most moves depend on how the US dollar (USD) is behaved as the original is priced in dollars (Xau/USD). The strong dollar tends to maintain the price of gold -controlled gold, while the weakest dollar is likely to increase the price of gold.
(The automation tool was used to create this post.)
