Gold scales a new high of Rs 129,500 per tola

August 6, 2020 (MLN): In domestic bullion market, gold prices shot up by Rs 800 to an all-time high of Rs 129,500 per tola on Thursday as falling rupee’s value against the US dollar made investors to flock on the safe-haven asset. The valuable yellow metal had closed at Rs128,700 per tola on the previous day. 

The price of 10-gram gold also continued its rally and settled at Rs 111,025 against the previous close of Rs 110,340 per 10-gram.

On a similar note, the 24 Karat- Silver edged up by Rs 20 to clock in at Rs 1,650 per tola.  Moreover, 10-gram silver witnessed a meagre increase of Rs 17.14 to close at Rs 1,414.60, as per the Karachi Sarafa Association.

A weaker US dollar, China-US tensions and fresh outbreaks that have caused renewed lockdowns, kept gold prices elevated to record high. In international market, gold prices jumped to $2,050 per ounce. Likewise, the other precious metal, silver, surged to $27.90 per ounce. 

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