February 19, 2020 (MLN): Gold witnessed a sharp increase in demand as the price of 12-gram gold jumped by Rs 1350 to close at Rs 92,500 in the local market. The valuable yellow metal had closed at Rs 91,150 per 12 gram on previous trading day.

According to the Karachi Sarafa Association, gold price per 10 gram clocked in at Rs 79,304, up by Rs 1,158 from Rs 78,146 per 10 in the previous trade.

Due to an increase in demand for silver, the silver prices edged higher by Rs 50 and closed at Rs 1050 per 12 gram. Similarly, 10-gram silver witnessed an increase of Rs 42.87 to trade at Rs 900.2.

In the global market, gold prices went up by $23 to $1,610 per ounce, while silver was valued at $18.38 per ounce.

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