In the int'l market, gold price breached its historic resistance of $2,000 an ounceKARACHI: Gold prices continue to surge in the local market based on the demand backed rally in international markets. Likewise, the price of 10-gram increased by Rs4,116 to Rs110,340 in the local market. Gold prices in Pakistan continue to breach all peaks as international investors pump money into buying gold due to the Covid-induced uncertainty. While there is an increase in demand for gold in the international market, there has been little to no buying in the local market. In the international market, gold surged to a record high on Wednesday owing to a weakening dollar and falling returns on US bonds.

Source: Pakistan Today August 05, 2020 16:07 UTC