Gold Price dips by Rs 700 to Rs 114,600 per tola

MG News | November 09, 2020 at 05:46 PM GMT+05:00

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November 9, 2020 (MLN): Following a rally last week, gold prices extended gains on Monday in international market mainly on the back of weaker dollar and expectations of more monetary stimulus under a Joe Biden presidency.

The price of yellow metal jumped by $5 to $1,957 an ounce while, the white metal in the international market was traded at $25.75 per ounce.

On the domestic front, the price of 24 karat gold dropped by Rs 700 to Rs 114,600 in the bullion market. The precious yellow metal of 24-Karat had closed at Rs 116,00 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 plunged by Rs 600 to Ra 98,251 against the price of Rs 99,451 reported Friday.

The price of per tola silver and 10-gram silver did not witness any change at they remained static at Rs 1,250 and Rs 1,071.67 respectively, the association reported.

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