Gold price edged down slightly for the second consecutive day on Thursday amid strengthening US dollar.
As of 1405 hours GMT, gold in the international market was available at $1,925.40 per ounce, shedding $3.30. Out of a $3.30 per ounce decrease, -$4.05 was due to the dollar’s strengthening and +$0.75 was due to predominant buyers, according to Kitco Gold Index.
The price of 10 grams of 24-carat yellow metal in Pakistan, meanwhile, increased to Rs110,400 after gaining Rs100. Gold in the local market was available at Rs110,300 on Wednesday last.
The local prices increased due to overnight increase in gold prices internationally when the local market was closed. Moreover, depreciation of the Pakistani rupee against the US dollar during the day also surged the gold prices. —TLTP
