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Gold price sheds Rs450 per tola

Gold price sheds Rs450 per tola

KARACHI: The gold prices on Wednesday decreased by Rs450 per tola and traded at Rs 91,050 in the domestic market.

Similarly, the price of 10 grams of yellow metal saw a decrease of Rs385 and traded at Rs78,060.

Meanwhile, gold edged higher in the global market after falling 1% in the previous session, on elevated concerns over an economic impact of the coronavirus outbreak in China, while investors awaited a policy decision from the U.S. Federal Reserve due later in the day.

Elsewhere, palladium advanced 0.5% to $2,301.40 an ounce, while platinum rose 0.4% to $989.05.

Silver rose 0.3% to $17.48, having earlier dipped to its lowest since Dec. 23 at $17.35. (Reporting by Asha Sistla in Bengaluru.

Spot gold rose 0.2% to $1,568.90 per ounce by 0807 GMT. U.S. gold futures fell 0.2% to $1,567.10.