Gold price falls to $1,807 an ounce owing to vaccine optimism

November 27, 2020 (MLN): The optimism over a potential vaccine for the extremely infectious COVID-19 disease knocked the demand for the safe-haven commodities. In the international market, gold reached $1,807 per ounce, down by $8 while silver was pegged at $23.24 an ounce.

On the other hand, the price of 24 karat gold rose by Rs 300 to Rs 110,800 per tola in the domestic bullion market. The price of yellow metal had closed at 110,500 per tola on Thursday.

According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also increased by Rs 257 to Rs 94,993 against the price of Rs 94,736 reported in the previous session.

Meanwhile, the price of per tola silver and 10-gram silver remained stable at Rs 1,180 and Rs 1,011.65 respectively, the association reported.

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Posted on: 2020-11-27T17:18:00+05:00