ISLAMABAD: Gold prices in the local market remained on a downward slide and decreased by Rs1,000 on Wednesday, following the rupee’s appreciation against the US dollar and around seven-month low international bullion prices. The price of one tola of 24-karat gold decreased to Rs200,000 from Rs201,000. Similarly, the gold price for 10 grams of 24-karat decreased to Rs171,480 from Rs172,340. On the other hand, as of 1250 hours GMT, gold futures in the international market were available at $1,828.20 per ounce, showing an increase of $5.60. Out of the $5.60 increase, +$9.55 was due to weakening of the US dollar and -$3.95 was due to predominant sellers, according to the Kitco Gold Index. Gold price climbed towards $1,830 and erased its daily losses. TLTP
