Gold increases to $1918 an ounce amid US fiscal stimulus hopes

MG News | October 21, 2020 at 05:51 PM GMT+05:00

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October 22, 2020 (MLN): Gold prices jumped on Wednesday on increased demand from gold buyers amid optimism over the fresh COVID-19 relief package. In the international market, gold went up by US $13 and traded at US $1,918 per ounce while silver was pegged at US $25 an ounce.

On the domestic front, the price of 24 karat gold also increased by Rs. 500 to Rs.116,200 per tola. The precious yellow metal of 24-Karat had closed at Rs.115,700 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 rose by Rs. 429 to Rs. 99,623 against the price of Rs. 99,194 reported yesterday.

On the other hand, the price of silver tola and 10-gram silver remained unchanged at Rs.1250 and Rs.1,071.67 respectively, the association reported.

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