Gold prices continue upward trend

By: News Desk      Published: 05:16 PM, 2 Jun, 2020
Gold prices continue upward trend

The price of gold increased by Rs300 per tola Tuesday to reach Rs98,400 in Pakistan, Sindh Jewelers Association said.

As per details, the price of 10 grams of gold increased by Rs257 to Rs84,362. The rate of 22-carat gold became Rs77,332 per 10 grams.

However, gold prices in the international market slipped Tuesday as hopes for a gradual recovery in economic growth rose following easing of lockdowns.

Spot gold was down 0.2% at $1,737.16 per ounce as of 0633 GMT. U.S. gold futures fell 0.2% to $1,747.10. “Gold’s rally lacks momentum,” said Jeffrey Halley, senior market analyst at OANDA, adding that it is likely to be range bound between $1,700 and $1,750 in the short term.

Categories : Business, Latest