Gold hits new high in local market

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STAFF REPORTER KARACHI Extending an upward trend, gold rates increased by Rs 650 to hit an all-time high of Rs94,300 per tola in the domestic market on Saturday. The price of 10 grams of gold recorded an increase of Rs557 to clock in at Rs80,8047 at the end of the day’s trading. The latest surge in prices of gold bullion is attributed to a rise in rates of the precious yellow metal in the global market. Reports say gold jumped more than 1.5 percent to its highest level in seven years in the global market as investors rushed to the metal’s safety due to concerns over global economic fallout from the fastspreading coronavirus.

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