The price of gold per tola has registered a decrease of Rs 800 to 109,300 in the domestic market, on Thursday.
As investors tried to grasp mixed signals from US Federal Reserve officials on high interest rates and awaited more economic data to gauge inflationary pressures, the gold princes languished in the international market.
As reported by Reuters, spot gold was down 0.1% at $1,776.20 per ounce by 0709 GMT, while US gold futures fell 0.3% to 1,777.30. Gold has risen 0.7% this week, after last week’s 6% decline.
Gold prices continued their upward trend in the domestic market on June 23 for the third consecutive day as the prices increased from Rs. 850 to Rs. 110,200.
All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad had said that the rate of 10 gram of gold has increased by RS 728 to Rs 94,478.
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