The per tola gold price in the domestic market fell by Rs 700 to Rs 108,600 on Tuesday. All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of the gold decreased by Rs 600 to Rs 93,106. In the international market, gold prices eased on Tuesday, as the dollar made gold expensive for holders of other currencies. There are concerns that the U.S. federal reserve will tighten its monetary policy sooner than expected also dented the appeal of the metal. According to Reuters, gold is seen as a hedge against inflation, though a rate hike will increase the opportunity cost of holding bullion and dull its appeal. Gold prices had continued their upward trend for the third consecutive day as the per tola price of the precious metal witnessed an increase of Rs 850 to Rs 110,200 in the domestic market on June 23.