Gold price plunges to Rs 126,100 per tola, follows global markets

August 11, 2020 (MLN): Gold prices tumbled today as the US dollar held onto gains against other currencies in the wake of upbeat US data jobs. In the international market, gold prices reached $1,988 an ounce, down by $47, receding from a record high of $2072.50 last week. The other precious metal, silver, was pegged at $28.28 per ounce.

On the domestic front, gold price fell more than 2% on Tuesday following global markets which retreated from record mark.  During the session, gold declined by Rs 2,900 to Rs 126,100 per tola in bullion markets. The precious yellow metal of 24-Karat had closed at Rs 129,000 per tola on the last day.

According to the Karachi Sarafa Association, the price of 10-gram gold also witnessed a decrease of Rs 2,487 to settle at Rs 108,110 against the previous close of Rs 110,597 per-gram.

On the other hand, the silver prices remained flat at Rs 1,670 per tola.  Similarly, 10-gram silver remained stable at Rs 1,431.75.

Copyright Mettis Link News