November 2, 2021 (MLN): Gold in the international market moved back and forth in a narrow range, holding on to gains of the last day’s recovery amid the cautious approach of the market. Investors believed that the upcoming Fed’s meeting will announce tapering while it may push back rate hikes expectations.

The yellow metal reached $1792 an ounce, up by $8 while silver was valued at $23.90 per ounce.

On the contrary, the gold prices in the domestic bullion market declined as the price of 24-karat gold went down by Rs150 to close at Rs117,650 per tola.

According to the data provided by Karachi Sarafa and Jewellers Association, the price of 10-gram of 24k gold also decreased by Rs129 and was traded at Rs100,866 while the 10gm 22k gold was pegged at Rs92,460.

While the price of 24-karat silver and 10-gram of 24-karat silver remained unchanged at Rs1,440 and Rs1,234.56 respectively in the domestic market.

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