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Gold price reaches Rs85,400 per tola

Gold price reaches Rs85,400 per tola

KARACHI: The price of per tola gold remained constant on Thursday and traded at Rs85,400 per tola. The price of 10-gram gold was traded at Rs 73,173.

On Wednesday, gold prices in the local market edged up by Rs200 to Rs85,400 per tola,

The rate of 10 grams of yellow metal also increased by Rs128 to Rs73,173.

Meanwhile, gold prices in global market inched up on Thursday as conflicting signals from Washington and Beijing prolonged uncertainty about a trade deal, a day after positive comments on the talks by U.S. President Donald Trump knocked bullion off its one-month high.

Gold rose to $1,484 on Wednesday, its highest since Nov. 7, but settled lower after Trump said that trade talks with China were going “very well”.

That came a day after Trump dented hopes for a trade resolution when he said an agreement might have to wait until after the U.S. presidential election in November 2020.

Spot gold was up 0.1% at $1,475.58 per ounce, as of 0811 GMT on Thursday, and U.S. gold futures were up 0.1% at $1,480.90 per ounce.