Gold rates drop by $18 on Fed’s tapering fears
MG News | September 30, 2021 at 06:18 PM GMT+05:00
September 30, 2021 (MLN): Gold prices on Thursday saw a fall as it dropped by $18 and was available at $1,723 an ounce on an account of the strong US dollar and fears that the U.S. Federal Reserve could soon begin tapering its monetary support measures. While silver was traded at $22.50 an ounce.
In line with global markets, the gold rates in domestic bullion markets also went down as the price of a single tola of 24-karat gold price decreased by only Rs200 to settle at Rs113,500 per tola. While 10-gram gold price closed at Rs97,308, down by Rs172, Karachi Sarafa and Jewellers Association reported.
On the other hand, the price of 24-karat silver remained stagnant at Rs1,400. Likewise, the price of 10-gram silver stayed flat at Rs1,200.27.
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