Gold loses ground, Silver remains stable

MG News | September 24, 2021 at 05:40 PM GMT+05:00

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September 24, 2021 (MLN): Following a four-day winning streak, gold lost some ground on Friday in local bullion market, as the price of 24-karat gold slipped by Rs200 to close at Rs113,300 per tola.

Similarly, the price of 10-gram of 24k gold also dropped by Rs172 and was traded at Rs97,136 while the 10gm 22k gold was valued at Rs89,042, Karachi Sarafa and Jewellers Association reported.

On the contrary, the price of 24-karat silver remained stagnant at Rs1,400. Likewise, the price of 10-gram silver stayed flat at Rs1,200.27.

In the international market, gold demand slumped by $19 to $1,753 an ounce as higher yields hurt the non-interest-bearing asset. Meanwhile, silver was traded at $22.6 an ounce compared to $22.68 an ounce the day before.

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