Gold hits new peak of Rs108,300 per tola

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Gold prices hit an all-time high of Rs108,300 per tola in the domestic market on Wednesday.

The per tola price of yellow metal rose by Rs 2,300 to Rs108,300 while the 10-gram gold rate increased by Rs 1972 to trade at Rs 92,849, according to All Pakistan Jewellers Association.

The increase in domestic gold prices was attributed to $27 per ounce rise in world gold rate to $1,804.

Gold in the international market briefly breached $1,800 an ounce on Wednesday for the first time since 2011 as mounting fears over the fast global spread of the coronavirus sent investors scurrying for safe havens.

Spot gold had risen 0.3% to $1,799.22 per ounce by 0854 GMT, after hitting its highest since November 2011, at $1,800.18, earlier in the session.

U.S. gold futures rose 0.2% to $1,812.90 per ounce.

European shares opened lower as soaring COVID-19 cases dented hopes of a swift economic recovery.

Author: ApnayOnline is an oline news portal which aims to provide latest trendy news around the Asia

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