Gold extends its losing streak
MG News | February 04, 2021 at 05:35 PM GMT+05:00
February 04, 2021 (MLN): The downward trajectory continued Thursday in the gold market as yellow metal witnessed some heavy selling amid a better recovery in US bond yields. Gold prices weakened by USD 33 and traded at USD 1,812 per ounce, while silver was valued at 25.72 an ounce.
On the domestic front, the price of 24 karat gold also plunged by Rs 650 to Rs 112,000 per tola. The precious yellow metal of 24-Karat had closed at Rs 112,650 per tola on the last day.
According to the data provided by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also witnessed a decrease of Rs 728 to settle at Rs 96,022 against the previous close of Rs 96,750 per-gram.
The price of silver inched lower by Rs 30 to Rs 1,350 per tola. Likewise, the price of 10-gram silver was recorded at Rs 1,157.40, down by Rs 25.72 compared to yesterday’s close of Rs 1,183.12 per tola.
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