Gold falls Rs2,100 ahead of Fed rate decision

Gold prices dropped on Tuesday, reflecting a decline in international rates. In the local market, the price of gold per tola fell Rs2,100 to Rs274,900, according to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold decreased Rs1,800 to Rs235,682. Internationally, bullion prices dropped $21 to $2,637 per ounce (inclusive of a $20 premium), as reported by the APGJSA. Interactive Commodities Director Adnan Agar noted that the market remained focused on the upcoming US monetary policy decision scheduled for Wednesday. "The decision is crucial for the global financial system and will likely influence the gold market," he explained.