Gold falls to $1894 an ounce owing to stronger US dollar

MG News | October 28, 2020 at 06:15 PM GMT+05:00

0:00

October 28, 2020 (MLN): Gold edged lower on Wednesday due to a strong pickup in demand for US Dollars that exerted pressure on the dollar-denominated commodity. In the international market, gold prices came down by $9 and traded at $1,894 per ounce, while silver was pegged at $24.04 an ounce.

On the domestic front, the price of 24 karat gold plunged by Rs 1,250 to Rs 113,250 in the bullion market. The precious yellow metal of 24-Karat had closed at Rs 114,500 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 fell by Rs 1,071 to Rs 97,094 against the price of Rs 98,165 reported on Monday.

On a similar note, silver witnessed a decrease in its price. The 24-Karat Silver slid by Rs 30 to Rs 1,200 per tola. Likewise, 10-gram silver dropped by Rs 25.72 to Rs.1,037.38 against the previous close of 1,063.10, the association reported.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	153,866.17 113.04M	-0.36% -555.27
ALLSHR	92,322.41 289.91M	-0.18% -165.37
KSE30	47,054.02 67.50M	-0.57% -268.71
KMI30	220,139.18 52.42M	-0.81% -1787.82
KMIALLSHR	59,630.44 114.87M	-0.43% -258.98
BKTi	44,089.65 23.49M	-0.09% -38.05
OGTi	31,668.31 6.28M	-0.15% -47.11

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	71,495.00	74,210.00 70,200.00	850.00 1.20%
BRENT CRUDE	103.89	103.95 97.60	3.43 3.41%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-12.90 -11.49%
ROTTERDAM COAL MONTHLY	122.70	123.80 122.70	-1.10 -0.89%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	99.31	99.32 92.04	3.58 3.74%
SUGAR #11 WORLD	14.41	14.53 14.30	0.03 0.21%