KARACHI: Gold rates in the local market edged up by Rs300 to Rs87,700 per tola on Friday.
Price of 10 grams of the precious yellow metal saw an increase of Rs257 and was traded at Rs75,188.
Meanwhile, gold also rose in the global market on growing fears of a global economic slowdown and rising expectations of more U.S. interest rate cuts, with investors now looking for cues from U.S. jobs data.
Spot gold was up 0.3% at $1,509.66 an ounce by 1128 GMT, having climbed to its highest since Sept. 25 at $1,518.50 in the last session. Prices are on track for a weekly gain of about 0.8%.
U.S. gold futures were up 0.1% at $1,515.50.
