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Gold prices remain unchanged in local market

Gold prices remain unchanged in local market

KARACHI: Gold rates in the local market remained unchanged at Rs87,250 per tola on Thursday, according to media.

Similarly, the rate of 10 grams of yellow metal witnessed no change and was priced at Rs74,802.

Meanwhile, gold fell in the global market, losing some of its safe-haven appeal as signs of progress in U.S.-China trade negotiations rekindled a rally in stock markets.

China and the United States have agreed to cancel, in phases, the tariffs imposed during their protracted trade war, the Chinese commerce ministry said, without specifying a timetable.

Spot gold was down 0.4% at $1,485.02 per ounce at 1208 GMT, while U.S. gold futures fell 0.5% to $1,485.90.