Gold increases to $1913 as dollar index weakens

October 06, 2020 (MLN): Gold prices increased on Tuesday as US dollar Index eased against other currencies due to uncertainty over the health of US President Donald Trump. Moreover, there is a possibility of a stimulus package from the US this week or next week, adding to safe-haven buying.

The gold price in the international market increased by the US $7 and was traded at the US $1,913 against the US $1,906 while silver stood at $24.30 an ounce.

Tracking the global markets, the price of 24 karat gold increased by Rs 800 in the domestic bullion market and was traded at Rs 113,300 against its price at Rs 112,500 on Monday.

According to the data released by the All Sindh Saraf Jewellers Association, likewise, the price of 10-gram gold increased by Rs 686 and was traded at Rs 97,136 against the previous close of Rs 96,450 per-gram.

The price of per tola silver and 10-gram silver did not witness any change as they remained stable at Rs 1200 and Rs 1028.8 respectively, the association reported.

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