August 26, 2020 (MLN): Safe-haven asset extended losses on the back of rising bond yields as equity investors made riskier bets amid hopes of looser policy from central bank and optimism about U-China trade.
Gold prices dropped to $1920 per ounce in the international market on Wednesday, while silver pegged at $26.46.
On the contrary, the gold prices went up in the domestic bullion market. The 24-Karat Gold increased by Rs 100 to Rs 116,500 per tola in domestic bullion markets. The precious yellow metal of 24-Karat had closed at Rs 116,400 per tola on the last day.
According to the data released by the All Sindh Saraf Jewellers Association, the price of 10-gram gold also witnessed an increase of Rs 86 to settle at Rs 99,880 against the previous close of Rs 99,794 per-gram.
While silver witnessed a decrease in its price. The 24-Karat Silver edged lower by Rs 50 to Rs 1,380 per tola. Likewise, the price of 10-gram silver was recorded at Rs 1,183.12, down by Rs 42.88 compared to a prior close of Rs 1226.
