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Gold rates fall in local market, edge up globally

KARACHI: The per tola gold price witnessed a decline of Rs300 in the domestic market on Thursday, ARY News reported.

The new price of per tola gold now stands at 110,400, said Chairman All Pakistan Jewellers Manufacturers Association, Muhammad Arshad.

Likewise, the rate of 10 grams of the precious metal decreased by Rs256 to Rs94,650, according to the All Pakistan Jewelers Association.

In the international market, yellow metal increased by $8 and was traded at $1,838 per ounce.

According to Reuters, gold climbed on Thursday as the dollar dropped on hopes that coronavirus vaccines will be rolled out soon and cautious investor optimism over a U.S. stimulus deal.

Spot gold was up 0.3% at $1,837.30 per ounce at 0822 GMT, having hit its highest since Nov. 23 at $1,843.11. U.S. gold futures were up 0.7% at $1,843.60.

Silver were little changed at $24.11 an ounce, while platinum rose 0.8% to $1,022.25 and palladium       gained 0.5% to $2,410.29.

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