Karachi September 7 2022: According to Sindh Sarafa Jewelers Association, the price of gold per tola has decreased by Rs 1,050 as prices dropped in international market.
“Gold is back in the danger zone as global bond yields are skyrocketing,” said Edward Moya, senior market analyst at Oanda Corp. “Central banks seem like they will be aggressive with front loading rate hikes right now. It could get ugly quickly if gold breaks below the $1,690 level as there isn’t much support until $1,650.”
After this decrease, the price of gold per tola in the country has reached 1 lakh 50 thousand 100.
The price of 10 grams of gold decreased by Rs 901 to Rs 1 lakh 28 thousand 686.
In the global market, the price of gold decreased by 9 dollar per ounce to 1,702 dollars per ounce. Gold had dropped to $1,700 an ounce as central banks globally raise interest rates to combat inflation, dulling the allure of the non-interest bearing asset.
