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Gold rates continue to climb in local, international markets

Gold rates continue to climb in local, international markets

KARACHI: Gold ascends in the local markets on Saturday with the per tola price of the precious metal registering at Rs90,900 with a Rs100 appreciation.

10 grams worth of gold also climbed Rs 86 with the overall worth for 10 grams stabilising at Rs 77,932.

International markets also saw a sizeable upsurge in the price of the golden metal, recording an appreciation of 7 dollars on the ounce.

An ounce of gold is currently priced at 1584 US dollars internationally.

Earlier on February 12, Gold rates extended a downward trend, decreased by Rs150 to Rs90,350 per tola in the local market.

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.