The price of gold decreased by Rs1,100 and was standing at Rs214,800 per tola for selling on February 29 in Pakistan, the All Sindh Sarafa Jewellers Association reported.

The price of 10 grammes of gold also decreased by Rs944 to Rs184,156 from the earlier price of Rs185,100.

Similarly, the price of 10 grammes 22 karat gold went down to Rs168,810 from the previous price of Rs169,674.

The price of per tola and 10 grammes of silver remained constant at Rs2,570 and Rs2,203.36, respectively.

In the international market, gold prices steadied on Wednesday, as lower US Treasury yields partially offset a firmer dollar, while traders awaited key inflation data and remarks from Federal Reserve officials this week to gauge when the central bank is likely to cut rates.

Spot gold held its ground at $2,030.12 per ounce while US gold futures fell 0.2% to $2,039.40 per ounce.