Gold price continues to rise in local market

KARACHI: Gold prices in the local market on Thursday edged up by Rs200 to Rs85,350 per tola, reported ARY News.

The rate of 10 grams of yellow metal also increased by Rs172 to Rs73,174.

Meanwhile, in international market gold eased on Thursday as optimism surrounding U.S.-China trade ties offset support from political uncertainty stemming from the U.S. House of Representatives’ vote to impeach President Donald Trump.

Spot gold dipped 0.1% to $1,474.34 per ounce as of 1326 GMT. U.S. gold futures were unmoved at $1,478.20.

Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.3% to 883.29 tonnes on Wednesday.

Elsewhere, palladium was flat at $1,922.63 an ounce. Prices of the autocatalyst metal hit an all-time peak of $1,998.43 on Tuesday, within a whisker of breaking above $2,000 for the first time due to a gaping supply deficit.

Silver was down 0.2% at $16.97 per ounce, while platinum slipped 0.5% to $930.75.