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Gold rates edge up in local market

KARACHI: Gold rates in the local market increased by Rs100 to Rs90,250 per tola on Friday, ARY News reported.

Similarly, the rate of 10 grams of yellow metal also registered an increase of Rs85 and traded at Rs77,374.

Meanwhile, gold rates in global market edged down on Friday as the dollar rose and appetite for riskier assets improved after the World Health Organisation tempered fears of a global coronavirus outbreak.

Spot gold was 0.1% lower at $1,561.18 per ounce by 1039 GMT but holding above the key $1,550 support level and en route to a post small weekly gain of about 0.3%.

Read More: Gold rates continue significant growth in open market

US gold futures slipped 0.3% to $1,560.80 per ounce.

Silver rose 0.3% to $17.84 per ounce but was set to post its biggest weekly decline since early-December at nearly 1%. Platinum rose 0.3% to $1,004.64, but was down 1.3% for the week, its worst since the week ended Dec. 20.

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