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Gold price reaches Rs 86,000 per tola

Gold price reaches Rs 86,000 per tola

KARACHI: Gold prices on Tuesday increased by Rs200 per tola and traded at Rs86,000 in the local market, according to media. Rate of 10 grams of the precious yellow metal increased by Rs172 to 73,731.

Meanwhile, gold fell on Tuesday in the international market, erasing gains from earlier in the session, as a temporary reprieve from Washington for China’s Huawei rekindled optimism for a trade deal between the countries and boosted risk sentiment.

In the international market, the price of per ounce gold increased by $08 and was traded at $1467.

European share markets reached a four-year high as a new extension granted by Washington to let U.S. companies keep doing business with Chinese telecoms giant Huawei boosted bets that the world’s largest economies could reach a trade truce, Reuters reported.