Gold nosedives by Rs850 per tola

MG News | January 14, 2022 at 05:41 PM GMT+05:00

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January 14, 2021 (MLN): The demand for gold remained dented as the price of 24-karat gold declined by Rs850 to close at Rs124,750 per tola, the data revealed by Karachi Sarafa and Jewellers Association showed on Friday.

Similarly, the price of 10-gram of 24k gold plunged by Rs729 to trade at Rs106,953 while the 10gm 22k gold was valued at Rs98,040.

On the contrary, the price of 24-karat silver remained stagnant at Rs1,450. Likewise, the price of 10-gram silver stayed flat at Rs1,243.14.

The safe-haven gold’s appeal remained subdue in the international market to stand at $1,821 per ounce on firmer bond yields as traders are anticipating rate hikes by the U.S. Federal Reserve.

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