Gold price in Pakistan: Rates on May 15
The post Gold price in Pakistan: Rates on May 15 appeared on BitcoinEthereumNews.com. Gold prices fell in Pakistan on Thursday, according to data compiled by FXStreet. The price for Gold stood at 28,523.62 Pakistani Rupees (PKR) per gram, down compared with the PKR 28,805.12 it cost on Wednesday. The price for Gold decreased to PKR 332,693.90 per tola from PKR 335,977.20 per tola a day earlier. Unit measure Gold Price in PKR 1 Gram 28,523.62 10 Grams 285,236.20 Tola 332,693.90 Troy Ounce 887,184.50 Daily Digest Market Movers: Gold price continues to be weighed down by trade optimism and reduced bets for aggressive Fed rate cuts The US and China agreed to slash steep tariffs for at least 90 days. Moreover, US President Donald Trump said on Tuesday that he could see himself dealing directly with Chinese President Xi Jinping on the details of a trade pact. This helps to ease market concerns about a downturn in the world’s largest economy and drags the safe-haven Gold price to over a one-month low on Thursday amid expectations of fewer interest rate cuts by the Federal Reserve. Traders are now pricing in a little over 50 basis points of Fed rate cuts for the year, down from over a full percentage point of reductions priced in last month. This lifts the benchmark 10-US Treasury yield to its highest in a month. Fed Vice Chair Philip Jefferson warned that announced tariffs and the uncertainty surrounding U.S. trade policy could derail any recent progress on inflation. Jefferson added that the recent inflation data show further progress toward the 2% target and described the current policy stance as well-positioned to respond to developments that may arise. Adding to this, Chicago Fed President Austan Goolsbee noted that some parts of the April inflation report represent the lagged nature of the data, and it will take time for current inflation…
The post Gold price in Pakistan: Rates on May 15 appeared on BitcoinEthereumNews.com.
Gold prices fell in Pakistan on Thursday, according to data compiled by FXStreet. The price for Gold stood at 28,523.62 Pakistani Rupees (PKR) per gram, down compared with the PKR 28,805.12 it cost on Wednesday. The price for Gold decreased to PKR 332,693.90 per tola from PKR 335,977.20 per tola a day earlier. Unit measure Gold Price in PKR 1 Gram 28,523.62 10 Grams 285,236.20 Tola 332,693.90 Troy Ounce 887,184.50 Daily Digest Market Movers: Gold price continues to be weighed down by trade optimism and reduced bets for aggressive Fed rate cuts The US and China agreed to slash steep tariffs for at least 90 days. Moreover, US President Donald Trump said on Tuesday that he could see himself dealing directly with Chinese President Xi Jinping on the details of a trade pact. This helps to ease market concerns about a downturn in the world’s largest economy and drags the safe-haven Gold price to over a one-month low on Thursday amid expectations of fewer interest rate cuts by the Federal Reserve. Traders are now pricing in a little over 50 basis points of Fed rate cuts for the year, down from over a full percentage point of reductions priced in last month. This lifts the benchmark 10-US Treasury yield to its highest in a month. Fed Vice Chair Philip Jefferson warned that announced tariffs and the uncertainty surrounding U.S. trade policy could derail any recent progress on inflation. Jefferson added that the recent inflation data show further progress toward the 2% target and described the current policy stance as well-positioned to respond to developments that may arise. Adding to this, Chicago Fed President Austan Goolsbee noted that some parts of the April inflation report represent the lagged nature of the data, and it will take time for current inflation…
What's Your Reaction?
