Gold closes at Rs126,100 per tola

MG News | January 07, 2022 at 06:25 PM GMT+05:00

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January 7, 2021: The demand for gold remained dented on the second consecutive day as the price of 24-karat gold edges lowered by Rs50 to close at Rs126,100 per tola, the data revealed by Karachi Sarafa and Jewellers Association showed on Friday.

Similarly, the price of 10-gram of 24k gold dropped by Rs43 to trade at Rs108,110 while the 10gm 22k gold was valued at Rs99,101.

The price of 24-karat silver per tola and 10-gram also moved down by Rs10 and Rs8.57 to settle at Rs1,450 and Rs1243.14, respectively.

Firmer bond yields continued to weigh on safe-haven gold’s appeal in the international market as traders are anticipating rate hikes by the U.S. Federal Reserve in days to come.

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