Gold rate drops to Rs 112,850 per tola

MG News | February 02, 2021 at 05:21 PM GMT+05:00

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February 02, 2021 (MLN): A modest increase in U.S. bond yields on Tuesday encouraged some fresh sell-off around the precious yellow metal but concerns about the delay in the COVID-19 vaccine helped mitigate further losses for the commodity. In the international market, gold prices weakened by USD 10 and traded at USD 1,850 per ounce, while silver was valued at 27.73 an ounce.

Following the global market, gold prices fell in the domestic bullion market as the 24 Karat-Gold dropped by Rs 450 to Rs 112,850 per tola against the price of Rs 113,300 per tola reported yesterday.

According to the data provided by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also witnessed a decrease of Rs 386 to settle at Rs 96,750 against the previous close of Rs 97,136 per-gram.

On a similar note, the silver prices edged lower by Rs 30 to Rs 1,400 per tola. Likewise, the price of 10-gram silver was recorded at Rs 1,200.27, down by Rs 25.37 compared to yesterday’s close of Rs 1,226.

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