Gold price in the country remained stable on Wednesday without any change, though an uptick was witnessed in prices in the international markets dur to US dollar’s weakness. According to the data provided by Karachi Sarafa Association, the price for one tola of 24-karat gold remained unchanged at Rs 215,200. Similarly, the price for 10 grams of 24-karat gold and 22-karat gold remained stable at Rs 184,500 and Rs169,124, respectively. Earlier, gold price in the country declined by Rs 2,150 (-0.99 percent) per tola last week. It was the third consecutive week when the prices of the yellow metal decreased in the country. On the other hand, as of 1220 hours GMT, gold futures in the international market were available at $2,032.40 per ounce, showing an uptick of $3.50. Out of the $3.50 increase, +$8.25 was due to weakening of the US dollar and -$4.75 was due to predominant sellers, according to the Kitco Gold Index. Gold prices rose after the benchmark 10-year US Treasury bond yield went down nearly one percent ahead of the US PMI data. Gold price attracted some dip-buying near the $2,023-$2,022 area on Wednesday; however, it remained confined in a familiar trading range held over the past four days and below the $2,040-$2,042 supply zone.
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