Gold rate reduces by Rs 3,000 to Rs 129,000 per tola

KARACHI (92 News) – The gold price reduced significantly by Rs 3,000 to Rs 129,000 per tola on Monday. The price of 10 grams of gold reduced by Rs 2,572 to Rs 110,597. Reuters adds: Gold prices edged lower on Monday and retreated sharply from a record peak in the last session, as the dollar made further gains with investors keeping a cautious eye on the US-China spat ahead of key trade talks on Aug 15. Spot gold fell 0.2% to $2,031.39 per ounce by 1225 GMT. US gold futures rose 0.7% to $2,041.60 per ounce. Gold hit a record high of $2,072.50 on Friday but pulled back as much as 2.5%, hurt by a bounce in the dollar after data showed the US economy added 1.763 million jobs in July. Silver rose 0.3% to $28.37 per ounce, platinum gained 2% to $981.12 per ounce, and palladium was also up 0.7% at $2,191.90 per ounce.