Gold rates go up Rs1,500/tola in domestic market
- By Web Desk -
- Mar 06, 2020
KARACHI: Gold rates in the domestic market increased by Rs1500 per tola on Friday, reported ARY News.
According to All Jewellers Association, per tola price of yellow metal reached Rs95,700 after the Rs1500 increase.
Similarly, the bullion price of 10 grams rose by Rs1287 to Rs82,047.
Read More: Pakistan’s foreign reserves reach US$18.86 bn
In the global market, gold rose on track to post its biggest weekly gain since late October 2011, over fears that the global coronavirus outbreak could deal a hard blow to the world economy.
Spot gold was up 0.2% to $1,674.20 per ounce by 0813 GMT, having risen more than 2% in the previous session.
Read More: Pakistan’s trade deficit witnesses 27 percent decline
U.S. gold futures rose 0.4% to $1,675.20. “Gold is moving higher because markets are expecting further cuts and on ongoing risk-aversion right now as (wider) markets are concerned,” said DailyFx currency strategist Ilya Spivak.