Gold rates gain by $8 an ounce on inflation fears

MG News | October 13, 2021 at 05:32 PM GMT+05:00

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October 13, 2021 (MLN): Gold rates on Wednesday witnessed an increase of $8 to reach $1,771 per ounce due to the rising inflation fears that drove some investors' interest towards safe-haven metal while silver was valued at $22.84 an ounce.

On the domestic front, the gold prices also saw an upsurge today, marking an uptick of Rs700 as the 24-karat gold traded at Rs116,700 per tola.

Similarly, the price of 10-gram of 24k gold increased by Rs600 and was traded at Rs100,051 while the 10gm 22k gold was valued at Rs91,714, Karachi Sarafa and Jewellers Association reported.

On the contrary, 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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