28.9 C
Karachi
Friday, March 29, 2024
- Advertisement -
 

Gold price reaches Rs94,800 per tola

TOP NEWS

Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

KARACHI: The gold rates on Wednesday remained stable on Wednesday and traded at Rs94,800 per tola, ARY News reported.

Similarly, the price of 10 grams of precious yellow metal remained stable and traded at Rs81,275 in the local market.

Meanwhile, gold prices in the global market witnessed an increase of $4 per ounce and traded at $1650 per ounce.

On Monday, the gold price was up by Rs 2000 increase to hit an all-time high of Rs96,300 per tola in the local market.

Read more: Gold price reaches to Rs 96,300 per tola in Pakistan

Spot gold rose to $1,684 per ounce after hitting its highest level since Feb. 13, 2013 with 40 dollars per ounce hike.

Bullion risen 4% in previous week, on track for its best week since late June.

“Markets are once again anxious because the coronavirus outbreak is possibly spreading outside China. There is huge amount of safe-haven demand as economic slowdown in China, Japan and Germany is expected to persist in the first half of the year,” said Edward Moya, a senior market analyst at broker OANDA.

- Advertisement -
- Advertisement -
 

POLL

Will the PML-N led govt be able to steer Pakistan out of economic crisis?

- Advertisement -
 

MORE STORIES