Gold prices reduce by Rs 500 per ounce
Increase in interest rates by Federal Reserve made investors less interested in buying gold
KARACHI (Dunya News) – Gold prices decreased in both international and national markets on Wednesday. According to the decrease, $20 have been reduced in gold prices in international markets down to $1221 per ounce while price decline has also been observed in local market as well, reported Dunya News.
Rs 500 has been decreased in the local market after which gold is being sold worth Rs 48,550 per ounce while 10 grams of gold costs Rs 42,428 with a reduction of Rs 428.
Economic experts believe that due to predicted reports of possible increase in interest rates by Federal Reserve, the investors are less interested in buying gold.
