Gold prices witness steep decline in domestic market

Gold prices decline domestic market

KARACHI: The per tola gold price on Thursday registered a decrease of Rs900 to Rs111,800 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 also decreased by Rs771 to Rs95,850 today.

In the international market, gold prices steadied near the $1,900-per-ounce level on Thursday as investors awaited key economic readings out of the United States, while a firmer dollar weighed on bullion prices.

Spot gold was up 0.2% at $1,900.30 per ounce after hitting its highest since Jan. 8 at $1,912.50 on Wednesday.

U.S. gold futures eased 0.1% to $1,901.50 per ounce.

Elsewhere, palladium rose 0.5% to $2,757.06 per ounce, silver was steady at $27.68, and platinum gained 0.3% to $1,194.55.

US dollar rises against rupee

The United States (US) dollar continued to appreciate against the Pakistani rupee in the inter-bank currency market for a fourth day in row on Thursday.

According to the State Bank of Pakistan (SBP), the greenback closed at Rs154.84 against the local currency, registering an appreciation of six paisas over the previous close of Rs154.78.

The post Gold prices witness steep decline in domestic market appeared first on ARY NEWS.



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