Gold settles lower to $1810 on stronger dollar

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MG News | August 02, 2021 at 08:02 PM GMT+05:00

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August 2, 2021 (MLN): Gold lost its ground on Monday in international markets due to surging demand for the greenback after the hawkish Fed comments that led its price to reach $1,810 per ounce, down by $4 while silver was traded at $25.45 an ounce, the association reported.

On the contrary, gold rates in the domestic bullion market increased today as the price of 24 karat per tola gold jumped by Rs600 and was traded at Rs110,600 against its previous close of Rs101,000 per tola.

Also, the price of 10-gram 24 karat also surged by Rs515 to stand at Rs94,822 while the price of ten-gram of 22 karat inched up to Rs 86,920, as per data provided by Karachi Sarafa and Jewellers Association.

Unlike gold, the price of 24-Karat silver per tola and 10-gram silver remained stagnant at Rs1,460 and Rs1,251.71, respectively.

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