Gold price decreases to Rs89,800 per 10gm


Gold price went up slightly on Friday after losing over $100 an ounce in its value during the last five sessions.

At 12:50 GMT, gold in the international market was trading at $1,777.30 an ounce after gaining $2 an ounce in its value as compared to its closing value on Thursday last.

Gold price opened at $1,878.80 an ounce on Monday last, the first day of the current week, and so far it has shed $101.50 during this week.

The US Federal Reserve’s hiking of interest rates is the main reason for gold’s drop down.

Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs89,800 with a loss of Rs200, as international closing price of gold on Thursday during the Asian trading hours was up as compared to the closing price.

The price of yellow metal in the country remained Rs90,000 on Thursday. .” —TLTP

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