Gold price slips to Rs89,200 per 10gm due to firm dollar

19
Islamabad

Gold prices eased over 1.25 percent in the interna-tional market on Tuesday due to the firm dollar, as US Fed gave mixed signals on interest rate hike even as US Fed had reassured markets that interest rates will not be hiked quickly.

At 13:20 GMT, gold in the international market was trading at $1,757 an ounce after shedding $22.40 in its value as compared to its closing value on Mon-day last.

Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs89,200 with a loss of Rs1,300. The closing price of yellow metal in the country remained Rs90,500 on Monday.

According to analysts, bearish near-term technical charts and not much risk aversion in the market-place at present are also weighing on the safe-haven metals.—TLTP

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