Gold price rises to $1,878 an ounce as bond yields decline

November 13, 2020 (MLN): Gold prices jumped on Friday on increased demand from gold buyers amid a decline in yields of US Treasury bonds. Moreover, reviving hopes for a fiscal stimulus package also supported the yellow metal. In the international market, the price of gold went up by US $6 and traded at US $1,878 per ounce while silver was pegged at US $24.26 an ounce.

On the domestic front, the price of 24 karat gold also increased by Rs 400 to Rs 112,200 in the domestic bullion market. The precious yellow metal of 24-Karat had closed at Rs 111,800 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 rose by Rs 343 to Rs 96,193 against the price of Rs. 95,850 reported yesterday.  

Likewise, the price of per tola silver and 10-gram silver also witnessed an increase of Rs 20 and Rs 17.15 to Rs 1,200 and Rs 1,011.65 respectively, the association reported.

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Posted on: 2020-11-13T17:18:00+05:00