- Losses continued into the second session of trading on Wednesday, pushing the metal below the threshold of Rs 146,000 per tola.
- Bullion prices increased $13 per ounce globally to settle at $1,746.
- Investors are awaiting US Federal Reserve guidance on interest rates.
On predictions that the economic recovery will reduce inflationary pressure, gold’s appeal as a hedge was reduced.
Losses continued into the second session of trading on Wednesday, pushing the metal below the threshold of Rs 146,000 per tola.
The price of gold in the local market decreased by Rs. 100 per tola and Rs. 85 per 10 grams to settle at Rs. 145,900 per tola and Rs. 125,086 per 10 grams, according to the All Sindh Saraf Jewellers Association (ASSJA).
Per tola, the price of gold increased by Rs. 4,100 (2.96%) overall last week.
It should be mentioned that the price of gold is currently below cost and is Rs. 3,000 less per tola than Dubai.
Bullion prices increased $13 per ounce globally to settle at $1,746; nevertheless, investors are awaiting US Federal Reserve guidance on interest rates.
In the meantime, today’s domestic market silver prices stayed constant at Rs. 1,540 per tola and Rs. 1,320.30 per 10 kilos.
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