Gold falls Rs70 per tola

KARACHI: Gold rates fell by Rs70 to Rs90,830 per tola in the local market on Monday, ARY News reported.

Likewise, the price of 10 grams of precious yellow metal registered a drop of Rs59 and traded at Rs77,872.

Meanwhile, gold prices in global market held near a two-week high scaled in the previous session as uncertainty prevailed over the impact of the coronavirus outbreak on the global economy.

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Spot gold was little changed at $1,582.08 per ounce, as of 0701 GMT, having touched its highest since Feb. 3 at $1,584.65 on Friday. U.S. gold futures were down about 0.1% at $1,585.30.

“Gold is holding firm at high prices as uncertainty around coronavirus remains high, while the economic impact is still unclear,” said Michael McCarthy, chief market strategist at CMC Markets.