KARACHI: The per tola gold price witnessed a decline of Rs550 to Rs113,200 in the domestic market on Wednesday, ARY News reported.
Likewise, the rate of 10 grams of the precious metal decreased by Rs471 to Rs97050, according to the All Pakistan Jewelers Association.
Rate of the precious yellow metal in international market fall by $31 per ounce to $1885, resulting in a decrease in domestic prices of gold, said a spokesperson of the jeweler’s association.
According to Reuters, gold rose on Wednesday after concerns over further U.S. stimulus to support the virus-hit economy waned, with focus now on minutes from the U.S. Federal Reserve’s last meeting for clues on the outlook of monetary policy.
Spot gold rose 0.4% to $1,884.46 per ounce by 10:34 am ET (1434 GMT). U.S. gold futures fell 1.3% to $1,884.60 per ounce.
Read More: Gold price jumps Rs1500 per tola in domestic market
Earlier on October 6, the price of gold had been increased by Rs1500 to Rs113,750 in the domestic market.
Likewise, the rate of 10-gram gold had been increased by Rs 1,329 to Rs97,522, according to All Pakistan Jewelers Association.
Meanwhile, prices of the precious yellow metal in international market had been risen by $16 per ounce to $1916, resulting in an increase in domestic prices of gold, said the spokesperson of the jeweler’s association.
