Gold price soars to $1,958 owing to sharp sell-off in US Dollar

MG News | November 06, 2020 at 05:13 PM GMT+05:00

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November 06, 2020 (MLN): Gold prices showed a stellar performance on Friday. The price of yellow metal jumped to $1,958 an ounce on an account of sharp sell-off in the US dollar as prospects of Joe Biden’s victory have increased in the US election.

The while metal in the international market was traded at $25.82 per ounce

On the domestic front, the price of 24 karat gold surged by Rs 1,400 to Rs 116,000 in the bullion market. The precious yellow metal of 24-Karat had closed at Rs 114,600 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 increased by Rs 1,200 to Rs 99,451 against the price of Rs 98,251 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 Rs 1,250 and Rs 1,071.67 respectively, the association reported.

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