Gold rates continue to depreciate in local markets
- By Web Desk -
- Feb 12, 2020
KARACHI: Gold rates, extending a downward trend, decreased by Rs150 to Rs90,350 per tola in the local market on Wednesday, ARY News reported.
Similarly, the price of 10 grams of gold fell by Rs128 to Rs77,460.
Meanwhile, gold in the global market on also showed slight depreciation after a near one-week high in the previous session due to a stronger dollar and an uptick in equities as China’s factories slowly return to work amid rising death toll from the coronavirus epidemic.
Gold per ounce decreased by dollar three, stabilising its value at 1567 dollars in the global market.
Yesterday, Gold rates decreased by Rs70 to Rs90,500 per tola in the local market, similarly, the price of 10 grams of gold fell by Rs59 to Rs77,589.
100 index gains 816 points
Pakistan Stock Exchange (PSX) on Wednesday witnessed a bullish run as the index gained 816 points at the end of the day after remaining on a losing streak until the first day of this week.
The PSE-100 index crossed the 40,000 marks and ended the day with 40631 points. A major sum of Rs 120 billion entered the market to improve the market value.
The day begin with a positive trend at the PSX on Wednesday and the first half also witnessed again in 455 points, crossing the 40,000 marks to boost investors confidence.