Gold extends its record-breaking run

August 7, 2020 (MLN): The yellow metal extended its record-breaking run, driven by expectations of more stimulus measures to counteract the economic disruption caused by coronavirus pandemic. In the international market, the gold prices edged higher to $2,054 per ounce.

So far, safe-haven gold has rallied more than 35% this year.

The other precious metal, silver also surged to $28.18 an ounce.

On the domestic front, gold prices shot up by Rs 2,500 to an all-time high of Rs 132,000 per tola on Friday as investors continued to flock on the safe-haven asset. The valuable yellow metal had closed at Rs 129,500 per tola on the previous day. 

The price of 10-gram gold also continued its rally and settled at Rs 113,169 against the previous close of Rs 111,025 per 10-gram.

On a similar note, the 24 Karat- Silver inched up by Rs 60 to clock in at Rs 1,710 per tola.  Moreover, 10-gram silver witnessed an increase of Rs 51.44 to close at Rs 1,466.04, as per the Karachi Sarafa Association.

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