Gold prices fall in domestic market

KARACHI: The per tola gold price on Wednesday witnessed a decrease of Rs50 to Rs110,650 in the domestic market, ARY News reported.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold decreased by Rs43 to Rs94,864.

In the international market, gold pared some losses after dipping more than 1% earlier on Wednesday, helped by dovish comments from Federal Reserve Chair Jerome Powell, but bullion struggled for traction as elevated U.S. Treasury yields dampened its allure as an inflation hedge.

Spot gold was down 0.3% at $1,800.27 per ounce by 12:44 p.m. EST (1744 GMT), after dropping as much as 1.2% earlier in the session, according to Reuters.

Read More: Gold price goes up in domestic market

Earlier on February 23, the per tola gold price had registered a minimal increase of Rs50 to Rs110,750 in the domestic market.

All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad had said that the rate of 10 grams of gold increased by Rs43 to Rs94,950 that day.

 

 

The post Gold prices fall in domestic market appeared first on ARY NEWS.



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