Gold continues to fall amid rising concerns over second wave of COVID-19

September 23, 2020 (MLN): Gold prices continued losing ground as the fears about the second wave of the virus kept improving the US dollar’s status as an international reserve currency. In the international market, gold fell to the US $1892 an ounce while silver pegged at $23.63 per ounce.

In line with the global market, the price of 24 Karat gold on Wednesday decreased by Rs 700 to Rs 114,000 in the domestic bullion market. The precious yellow metal of 24-Karat had closed at Rs 114,700 per tola on the last day.

According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also witnessed a decrease of Rs 600 to settle at Rs 97,737 against the previous close of Rs 98,337 per-gram.

On a similar note, silver witnessed a decrease in its price. The 24-Karat Silver edged lower by Rs 30 to Rs 1,220 per tola. Likewise, the price of 10-gram silver was recorded at Rs 1045.95, down by Rs 25.72 compared to a prior close of Rs 1071.67.

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