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Gold falls Rs800 per tola

KARACHI: Gold prices in the domestic market fell by Rs800 to Rs86,600 per tola on Friday.

The rate of 10 grams of the precious yellow metal saw a drop of Rs685 and was traded at Rs74,245.

Meanwhile, gold prices in the global market held steady as support from a weaker dollar was offset by optimism over talks on U.S.-China trade ties and a Brexit deal, but were on track to post a weekly loss, while palladium climbed to a new record peak, Reuters adds.

Spot gold was steady at $1,493.52 per ounce at 1019 GMT, and were set to post a weekly decline of about 0.6%.

U.S. gold futures was down 0.2% at $1,498.20.

The dollar, which has emerged as an alternative safe-haven during the U.S.-China trade war, was a shade weaker versus its rivals.

 

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