Gold prices inch up despite global market decline

KARACHI: The local gold prices on Friday inched up to new highs despite the international bullion value has fallen below $ 2500 an ounce, traders said.

At the fourth straight session, gold prices grew to fresh record levels of Rs 262,000 per tola and Rs 224,623 per 10 grams, up by Rs 200 and Rs 172, respectively.

However, the world market failed to sustain the surge in gold bullion value, further receding by $ 12 to $ 2,492 per ounce while silver continued to sell at over $ 29 per ounce, traders said.

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