Gold rates soar by Rs2,300 to Rs119,000 per tola

October 14, 2021 (MLN): Gold rates in domestic bullion market continued to rally as the price of 24-karat gold increased by a whopping Rs2,300 to close at Rs119,000 per tola on Thursday.

According to data provided by Karachi Sarafa and Jewellers Association, the price of 10-gram of 24k gold also inflated by Rs1,972 and was traded at Rs102,023 while the 10gm 22k gold was valued at Rs93,521.

Similarly, the price of 24-karat silver and 10-gram of 24-karat silver also inched up by Rs24 and Rs1,226 to stand at Rs1,430 and Rs25.73 respectively.

In the international market, the demand for gold surged by $29 to $1,800 an ounce owing to a weaker dollar. Since gold is measured in dollars, a weaker dollar means a higher price for the yellow metal.

Meanwhile, silver was traded at $23.36 an ounce compared to $22.84 an ounce the day before.

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Posted on: 2021-10-14T17:38:24+05:00