Gold price surges to Rs93,800 per 10gm

Observer Report

Gold price remained in a descending movement for the fourth straight session on Wednesday ahead of the US policy decision and updated projections. At 13:35 GMT, gold in the international market was trading at $1,858.40 an ounce after losing $1.30 an ounce in its value as compared to its closing value on Tuesday last.

Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs93,800 with a gain of Rs300, as international closing price of gold on Tuesday during the Asian trading hours was low as compared to the closing price. The price of yellow metal remained Rs93,500 on Tuesday.

It is pertinent to mention that the US policy decision and updated projections are due on Wednesday.

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