Gold price rises to $1,915 amid optimism over US coronavirus relief package

MG News | October 09, 2020 at 05:54 PM GMT+05:00

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October 09, 2020 (MLN): Gold prices climbed higher on Friday amid optimism over a new stimulus package from the US government. A weaker US dollar due to low demand also added to safe-haven buying. In international markets, gold prices went up by $31 to $1,915 per ounce while silver stood at $24.40 an ounce

In the domestic bullion market, the price of 24 Karat gold on Friday increased by Rs 1,400 to Rs 114,400 against the price of Rs 113,000 recorded yesterday.

According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also witnessed an upsurge of Rs 1,200 to settle at Rs 98,080 against the previous close of Rs 96,880 per gram.

On the other hand, the price of per tola silver and 10-gram silver did not witness any change as they remained stable at Rs 1200 and Rs 1028.8 respectively, the association reported.

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