Latest gold rate in Pakistan today on 1st february, 2022

KARACHI: Gold fell for a fifth straight session on Tuesday, falling to a nearly two-month low on predictions that the economic recovery would reduce inflationary pressure.

GoldĀ prices in the local market fell by Rs300 per tola and Rs258 per 10 gram to Rs124,950 per tola and Rs107,124 per 10 gram, according to the All Sindh Saraf Jewellers Association (ASSJA).

During January, the precious commodity lost roughly Rs750 per tola on average.

Gold prices rose over the important $1,800 level in the foreign market, defying the trend in the domestic market, as investment demand grew, aided by a weak US dollar and low Treasury rates.

On the international market, it rose $18 per ounce to roughly $1,809 per ounce.

Experts think that a more upbeat tone in economic statistics and a stronger currency will erode demand for gold, which has profited recently from the depreciation of the local currency.

It’s worth noting that the gold pricing in Pakistan is roughly Rs1,500 lower than the gold rate on the Dubai market.

Meanwhile, silver prices in India stayed constant Monday at Rs1,450 per tola and Rs1,243.14 per ten gram.