ISLAMABAD: Gold prices continued losing traction in local and global markets on Wednesday, with the price of one tola of 24-karat gold dipping by Rs1,800 in the country. According to the All-Pakistan Gems and Jewellers Association’s (APSGJA) data, the price of one tola of 24-karat gold decreased by Rs1,800 to Rs218,700 from Rs220,500. Similarly, the gold rate for 10 grams of 24-karat moved down to Rs187,500 from Rs189,043, showing a decrease of Rs1,543. Following suit, the gold price for 22-karat was recorded at Rs171,875 per 10 grams against Rs173,290 a session earlier, showing a decrease of Rs1,415. In the international market, as of 1400 hours GMT, the gold futures were available at $1,926.30 per ounce, showing a decrease of $10.20 (-0.53 percent). Out of the $10.20 per ounce decrease, -$1.5 was due to strengthening of the US dollar and -$8.70 was due to predominant sellers, according to Kitco Gold Index. TLTP
