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Gold prices decline in Pakistan

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KARACHI, Jan 29 (DNA): Gold price on Saturday registered a slight dro
of Rs50 per tola in the domestic market.

According to all Pakistan Jewelers Manufacturers Association Chairman
Muhammad Arshad, the rate of per tola of the precious commodity declined
to Rs126,100 per tola in Pakistan after losing Rs 50.

Similarly, the price of 10 grams of gold also declined by Rs43 to
Rs108,110 in the domestic market.

Meanwhile, gold extended declines in the bullion market and was set for
its worst week since late November as growing expectations for U.S.
interest rate hikes pushed the dollar to a multi-month high, making
bullion less attractive for overseas buyers.

Spot gold fell 0.6% to $1,785.71 per ounce. It hit a six-week low of
$1,779.20 earlier in the session, and was headed to drop about 2.5% for
the week.

U.S. gold futures fell 0.5% to $1,786.60. Spot silver dropped 1.8% to
$22.33 an ounce, and was set to fall about 8% for the week. DNA

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