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Gold rates down Rs400 per tola in domestic market

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

KARACHI: Gold rates in the domestic market registered a decrease of Rs400 per tola on Monday, ARY News reported.

According to details, per tola price of yellow metal fell to Rs89900 while 10 grams of gold decreased by Rs342 to Rs77,074.

Meanwhile, bloodbath continues at Pakistan Stock Exchange as KSE-100 index dropped by 2100 points in intraday trading.

The PSX market halted trade for 45 minutes-the fourth time after the index suffered another major loss here on Monday.

Chinese stocks tumbled Monday as investors sold out on fears about the global spread of the coronavirus and its potential impact on the world economy, analysts said.

The benchmark Shanghai Composite Index closed down 3.40 percent, or 98.18 points, at 2,789.25, while the Shenzhen Composite Index on China’s second exchange fell 4.83 percent, or 86.96 points, to 1,712.02.

Hong Kong’s Hang Seng Index was down 4.60 percent in afternoon trade

The losses were in line with another plunge across Asia as an emergency policy easing measures by central banks including the Federal Reserve, Bank of Japan, and Reserve Bank of Australia failed to ease investors worries.

Oil prices extended losses on Monday, slumping by more than $1 a barrel, as an emergency rate cut by the US Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus and mounting economic disruptions.

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