Gold price decreases to Rs93,400 per 10gm

Observer Report

Gold prices loiter near the $1,800 per ounce mark for the fifth trading session on Tuesday, as the US dollar remains steady near the four-month high ahead of interest rate decision by the Federal Re-serve.

At 1350 hours GMT, gold in the international mar-ket was available at $1,802.40 per ounce after gain-ing $3.90 as compared to its closing value on Mon-day last.

Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs93,400 with a decrease of Rs1,000. The closing prices of the yellow metal in the country remained Rs94,400 on Monday last.

According to experts, the prices moved cautiously despite the general negative sentiments surrounding the greenback.

They said that from a technical per-spective, the $1,790 level might continue to protect the immediate downside and act as a pivotal point for short-term traders.


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