Gold falls Rs50 per tola

KARACHI: Gold prices decreased by Rs50/tola in the local market on Thursday, reported ARY News.

According to details, the per tola rate of yellow metal was down Rs50 to Rs88,950.

The rate of 10 grams gold decreased by Rs42 to Rs76,260/tola.

Reuters adds: Gold retreated today in global market as investors booked profits after the metal rallied to a six-year peak in the previous session and hopes of a thaw in U.S.-China trade ties spurred demand for riskier assets.

Spot gold fell 0.6% to $1,542.51 per ounce as of 1143 GMT, having scaled $1,557 on Wednesday, its highest since April 2013.

U.S. gold futures dropped 0.6% to $1,551.30 per ounce.