Gold reaches $1773 an ounce as eyes turn to Fed policy meeting

September 22, 2021 (MLN): Gold extended its winning session on Wednesday as the price of gold went up by $8 to reach $1773 an ounce due to the subdued US dollar. Moreover, investors focused on the outcome of a U.S. Federal Reserve policy meeting for more clarity on its tapering plans which is due later today which would determine gold’s fate.

On the domestic front, gold rates also jumped in the bullion markets as the price of 24-karat gold surged by Rs250 to close at Rs113,250 per tola.

Similarly, the price of 10-gram of 24k gold also increased by Rs214 and was traded at Rs97,094 while the 10gm 22k gold was valued at Rs89,002, 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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Posted on: 2021-09-22T17:33:20+05:00