August 19, 2020 (MLN): Precious metals witnessed profit booking on Wednesday after a sharp increase in the last trading session. In the international market, gold price reached $1985 an ounce amid a firm dollar, optimism about COVID-19 vaccine along with signs of easing US-China tensions.

Following the global markets, the 24 Karat- Gold plunged by around 1.88% to stand at Rs 120,000 per tola in domestic bullion markets. The precious yellow metal of 24-Karat had closed at Rs 122,300 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 a decrease of Rs 1,972 to settle at Rs 102,881 against the previous close of Rs 104,853 per-gram.

On a similar note, the silver prices edged lower by Rs 50 to Rs 1,480 per tola. Likewise, the price of 10-gram silver was recorded at Rs 1,268.86, down by Rs 42.86 compared to yesterday’s close of Rs 1,311.72.

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