August 20, 2020 (MLN): Gold tumbled on Thursday as Federal Reserve signaled that it would keep injecting the liquidity in the market as COVID-19 continued to disrupt global economies. In the international market, the gold price reached $1935 an ounce, down by $50.
The other precious metal, silver, also dropped to $27.05 per ounce.
In line with global markets, the 24 Karat- Gold plunged by around 2.08% to stand at Rs 117,500 per tola in domestic bullion markets. The precious yellow metal of 24-Karat had closed at Rs 120,000 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 witnessed a decrease of Rs 2,144 to settle at Rs 100,737 against the previous close of Rs 102,881 per-gram.
On a similar note, the silver prices edged lower by Rs 50 to Rs 1,430 per tola. Likewise, the price of 10-gram silver was recorded at Rs 1,226, down by Rs 42.86 compared to yesterday’s close of Rs 1,268.86.
