March 16, 2020 (MLN): The gold plummeted by 2% today against the previous close as panic selling fuelled by intensified fears over the coronavirus pandemic seeped into precious metals. The price per tola gold plunged by Rs 1,850 to close at Rs 89,000.

According to the Karachi Sarafa Association, 10-gram gold lost Rs 1,587 to settle at Rs 76,303.

Similarly, the silver prices also witnessed a decline of Rs 60 to close at Rs 990 per tola. Moreover, 10-gram silver lost Rs 51.4 to value at Rs 771.60.

In the global market, gold prices declined by $60 to $1,470 per ounce while silver was valued at $12.70 per ounce.

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