KARACHI: Gold rates increased by Rs500 to Rs88,500 per tola in the local market on Wednesday, according to media. The rate of 10 grams of the precious yellow metal rose by Rs430 to Rs75,874.
Gold held near a three-week peak today in the global market as an impeachment inquiry into US President Donald Trump raised political uncertainty in the world’s largest economy, triggering a broader sell-off in equity markets, Reuters adds.
Deficit-hit palladium meanwhile continued its record run to a fresh all-time high.
Spot gold was at $1,530.29 per ounce at 0958 GMT, little changed from the previous day, when it hit its highest since Sept. 5 at $1,535.60. U.S. gold futures eased 0.1% to $1,538.30.
