Gold rates unchanged in domestic market

KARACHI: Gold rates remained unchanged in the domestic market on Wednesday.

One tola of yellow metal traded at Rs103,900 while 10 grams of gold at Rs89,077, according to Muhammad Arshad, chairman of the All Pakistan Jewelers Manufacturers Association.

On the other hand, international gold prices fell as robust economic data from the United States lifted expectations of a rapid recovery and dampened bullion’s appeal, while investors were waiting for minutes from the Federal Reserve’s last policy meeting, Reuters adds.

Spot gold was down 0.4% to $1,737.09 per ounce by 0946 GMT. U.S. gold futures slipped 0.3% to $1,737.70 per ounce.