Gold falls to Rs112,700 per tola as rupee rebounds

September 16, 2021 (MLN): Snapping a winning streak on Thursday, gold rates declined in the domestic bullion market as the rupee rebounded after 5 days of losses.

According to Karachi Sarafa Association, the price of 24-karat gold dipped by Rs900 to Rs112,700 per tola against the previous close of Rs113,600 per tola.

Similarly, the price of 10-gram 24 karat gold plunged by Rs772 to clock in at Rs96,622 while 10-gm 22 karat gold traded at Rs88,570 against Rs89,278 yesterday, the association reported.

On the other hand, the price of 24-karat silver witnessed a drop of Rs20 and traded at Rs1,410 while the price of 10-gram silver decreased by Rs17.16 to close at Rs1,208.84.

In the International market, the demand for gold went down by $24 to trade at $1,779 an ounce on the back of strong dollar and US bond yields that diminished yellow metal’s shine while silver was valued at $23.47 an ounce.

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