KARACHI: Gold rates in the local market decreased by Rs200 to Rs87,500 per tola on Saturday, according to media. Rate of 10 grams of the precious yellow metal saw a drop of Rs170 and was traded at Rs75,018.
Per tola price of gold had edged up by Rs300 to Rs87,700 yesterday while that of 10 grams gold increased by Rs257 to Rs75,188.
Gold also rose in the global market on Friday 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.
