Gold rally takes a breather

MG News | July 30, 2020 at 05:01 PM GMT+05:00

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July 30, 2020 (MLN): Contrary to the previous session, Gold traded flat on Thursday as traders were watchful during the session. The price of 24 Karat-Gold remained steady at Rs 122,750 per tola in bullion markets.

Similarly, the price of 10-gram gold also remained flat at Rs 105,238 in today’s trading session.

On the other hand, According to the Karachi Sarafa Association, the 24 Karat- Silver fell by Rs 50 to clock in at Rs 1,420 per tola. Moreover, 10-gram silver witnessed a decrease of Rs 42.86 to close at Rs 1,217.42.

In the international market, the gold rally took a breather as gold prices remained sustained after Fed left policy rates unchanged. Gold reached $1954 per ounce, after peaking at 1,980.57 per ounce this week amid a safe-haven demand, driven by falling US dollar and rising coronavirus cases. While silver was valued at $23.47 per ounce.

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