KARACHI: Gold rates increased by Rs1850 to 94000 per tola in the domestic market on Wednesday, ARY News reported.
Likewise, the price of 10 grams of the precious yellow metal moved up by Rs1586 to Rs80,589.
Meanwhile, the gold rates in the international market on Wednesday extending gains from a 3% rise in the previous session as the US Federal Reserve slashed its benchmark interest rate to cushion the economic impact from the fast-spreading coronavirus.
Spot gold gained 0.1% to $1,641.08 per ounce by 0625 GMT, having registered its biggest one-day percentage gain since 2016 on Tuesday. U.S. gold futures slipped 0.1% to $1,642.50 per ounce.
The Fed trimmed interest rates by 50 basis points on Tuesday in an emergency move to safeguard the world’s largest economy from the impact of the epidemic.
