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Gold rates down Rs200 per tola

Gold rates down Rs200 per tola

KARACHI: Gold rates in the local market decreased by Rs200 to Rs90,150 per tola on Thursday.

Similarly, the rate of 10 grams of yellow metal also registered a drop of Rs170 and traded at Rs77,289.

Meanwhile,  Gold prices edged lower in the global market, consolidating near the $1,550 level, ahead of a policy decision by the European Central Bank, although mounting concerns over a virus outbreak in China limited losses. The euro zone’s central bank will announce its monetary policy decision at 1245 GMT. Spot gold was down 0.2% at $1,556.20 per ounce by 0855 GMT. U.S. gold futures fell 0.1% to $1,555.90.