Gold price falls by Rs750

KARACHI: Domestic gold price, extending its downward trend, fell by Rs750 to Rs87,050 per tola on Friday.

10-gram price of the precious yellow metal saw a drop of Rs624 and was traded at Rs74,631.

Meanwhile, Gold edged lower in international market, heading for its first weekly decline in four, as investors locked in profits from bullion’s recent strength as they awaited clarity on US interest rate cuts from the Federal Reserve chairman’s speech at Jackson Hole, adds Reuters.

Spot gold was down 0.3% at $1,494.76 an ounce by 1112 GMT, on track for a 1.3% weekly decline, while U.S. gold futures dipped by 0.3% to $1,504.60.