Gold loses shine, drops to Rs109,100 per tola

MG News | July 09, 2021 at 07:11 PM GMT+05:00

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July 9, 2021 (MLN): Gold rates in Pakistan’s bullion market dipped by around Rs600 to settle at Rs109,100 per tola for 24-karat after international prices of gold plunged nearly by $15 to $1,800 per ounce on Friday. One of the reasons for the fall was the fears over an imminent monetary policy tightening by the Fed that weighed on bullion.

The price of 10-gram of 24k gold also witnessed a fall of Rs515 and traded at Rs93,535 while the 10gm 22k gold pegged at Rs85,741, the data provided by the All Sindh Sarafa Jewellers Association revealed.

On the other hand, the price of 24-Karat silver per tola and 10-gram silver remained stagnant at Rs1,440 and Rs1,234.56, respectively.

In the international market, silver was traded at $26 an ounce, down by 0.4% from $26.12 an ounce recorded yesterday, the association reported.

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