July 24, 2020 (MLN): The precious metals surged again today as investors continued to pick safe-haven assets at the domestic bullion market. The price of 24 Karat-Gold surged by Rs 1400 to Rs 118,700 per tola. The valuable yellow metal had closed at Rs 117,300 per tola on the previous trading day.
The yellow metal of 24 Karat held in green for the eight-straight day, reached an all-time high of Rs 118,700 per tola, taking a cumulative gain of Rs 9800 i.e. 9%.
Following a global rally, the price of 10-gram gold also gained by Rs 1,200 to settle at Rs 101,766 against Rs 100,566 on the last trading day, the Karachi Sarafa Association reported.
Similarly, the appetite for silver among investors is also increasing. The 24 Karat- Silver witnessed an increase of Rs 50 to close at Rs 1,400 per tola. Moreover, 10-gram silver gained Rs 42.87 to amount at Rs 1,200.27.
In the global market, gold prices crossed the $1,900 mark after 9 years. It made a high of $ 1904 an ounce, while silver was pegged at $22.60 per ounce.
