Gold price rises to $1,866 an ounce

By MG News | November 20, 2020 at 05:56 PM GMT+05:00

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November 20, 2020 (MLN): The yellow metal gained on Friday from a risk-off environment induced by the news that most of the COVID-19 response programs will end that the Fed believed necessary for the economic stability. Moreover, the sell-off in the Treasury yields also supported the safe-haven.

In the international market, the price of gold went up by $7 to $1,866 per ounce while silver was pegged at $24.20 an ounce.

Gold prices rebounded today in the domestic bullion market as the price of 24 karat gold increased by Rs 500 to Rs 113,200 from Rs 112,700 recorded a day earlier.

According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also jumped by Rs 428 to Rs 97,050 against the price of Rs 96,622 reported yesterday.

Likewise, the price of per tola silver and 10-gram silver also witnessed an increase of Rs 30 and Rs 25.72 to clock in at Rs 1,230 and Rs 1,054.52 respectively, the association reported.

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