The post Gold price in Pakistan: Rates on June 14 appeared on BitcoinEthereumNews.com.

Gold prices rose in Pakistan on Friday, according to data compiled by FXStreet. The price for Gold stood at 20,814.31 Pakistani Rupees (PKR) per gram, up compared with the PKR 20,757.19 it cost on Thursday. The price for Gold increased to PKR 242,771.90 per tola from PKR 242,107.80 per tola a day earlier. Unit measure Gold Price in PKR 1 Gram 20,814.31 10 Grams 208,143.10 Tola 242,771.90 Troy Ounce 647,414.60   FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) 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 The Federal Reserve projected only one rate cut in 2024 as compared to three cuts estimated at the March meeting, which is seen underpinning the US Dollar and acting as a headwind for the non-yielding Gold price. This week’s softer inflation figures, however, suggest that the Fed could lower borrowing costs earlier than expected, with the CME Group’s FedWatch Tool indicating a greater chance of the first rate cut in September. The data published by the US Bureau of Labor Statistics on Thursday showed that the Producer Price Index (PPI) for final demand rose by 2.2% on a yearly basis in May, lower than the 2.3% previous and 2.5% expected. Adding to this, the annual core PPI rose 2.3% during the reported month, below April’s increase and the market expectation of 2.4%. On a monthly basis, the PPI declined 0.2%, while the core PPI remained unchanged. This comes on top of Wednesday’s softer CPI report, which showed that consumer prices were unchanged in May for the first time since last June and…

---

Filed under: News - @ June 14, 2024 6:18 am