Gold price reduces by Rs 500 per ounce

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KARACHI: Gold prices has been decreased in both international and national markets on Wednesday according to which $20 has been reduced in gold price in international market making it to $1221 per ounce while price decline has also been observed in local market as well.
Rs 500 has been decreased in the local market after which gold has been 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.

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