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Gold prices fall in domestic market

KARACHI: Gold rates dropped by Rs600 to Rs104,100 per tola in the domestic market on Wednesday, ARY News reported.

Likewise, the rate of 10 grams of yellow metal recorded an Rs414 drop and was traded at Rs89,248, according to Muhammad Arshad, chairman of the All Pakistan Jewelers Manufacturers Association.

In the International market, gold gained on Tuesday as a rise in U.S. Treasury yields stalled and the dollar steadied near multi-week lows.

Gold slipped to a near two-week low on Wednesday as U.S. Treasury yields firmed while investors awaited policy signals from the U.S. Federal Reserve.

Spot gold edged 0.2% lower to $1,772.53 per ounce after dipping to its lowest since April 16 at $1,762. U.S. gold future fell 0.3% to $1,772.60.

Silver shed 1% to $25.97 per ounce, after reaching a low since April 21 at $25.80. Platinum dipped 1.3%, to $1,212.44.

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