Gold rates edge up in local market

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 Gold rates in the local market edged up by Rs200 to Rs87,000 per tola on Monday.

The rate of 10 grams of precious yellow metal increased by Rs172 to Rs74,589.

Meanwhile, gold also gained globally as optimism over a potential U.S.-China trade deal waned, while palladium notched an all-time high driven by short supplies of the auto-catalyst metal.

Spot gold was up 0.3% at $1,493.33 per ounce at 01:41 p.m. EDT (1741 GMT), after touching nearly a two-week low of $1,473.90 in the previous session.

U.S. gold futures settled 0.6% higher at $1,497.6 an ounce.


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