Gold nosedives by Rs700 to close at Rs118,300 per tola

MG News | October 15, 2021 at 07:31 PM GMT+05:00

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October 15, 2021 (MLN): After witnessing a sharp increase in the demand for gold during the previous session, the yellow metal took a u-turn on Friday as the price of 24-karat gold in the domestic bullion fell by Rs700 to close at Rs118,300 per tola.

According to data provided by Karachi Sarafa and Jewellers Association, the price of 10-gram of 24k gold also dropped by Rs600 and was traded at Rs101,423 while the 10gm 22k gold was valued at Rs92,971.

On the other hand, the price of 24-karat silver and 10-gram of 24-karat silver remained unchanged at Rs1,430 and Rs1,226 respectively.

In the international market, the demand for gold nosedived by $20 to $1,780 an ounce while silver was traded at $23.36 an ounce compared to $22.84 an ounce the day before.

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