Gold extends decline to Rs112,500 per tola

September 17, 2021 (MLN): Gold extended decline in domestic bullion market as the Pakistani rupee (PKR) successfully managed to hold the ground in the second consecutive session on Friday against US dollar and closed the day’s trade at PKR 168.19.

According to Karachi Sarafa Association, the price of 24-karat gold dipped further by Rs200 to Rs112,500 per tola against the previous close of Rs112,700 per tola.

Similarly, the price of 10-gram 24 karat gold slumped by Rs171 to clock in at Rs96,451 while 10-gm 22 karat gold traded at Rs88,413 against Rs88,570 yesterday, the association reported.

On a similar note, the price of 24-karat silver witnessed a drop of Rs10 and traded at Rs1,400 while the price of 10-gram silver fell by Rs8.57 to close at Rs1,200.27.

In the International market, the demand for gold dented by $18 to trade at $1,761 an ounce as higher yields hurt non-interest-bearing metal, while silver was valued at $23 an ounce against $23.47 an ounce yesterday.

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