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Gold prices continue to fall in domestic market

KARACHI: The per tola gold price witnessed a minimal decline of Rs230 to Rs115,270 in the domestic market on Monday, ARY News reported.

Likewise, the rate of 10 grams of the precious metal decreased by Rs196 to Rs98,825, according to the Chairman All Pakistan Jewelers Association Muhamad Arshad.

On the other hand in the international market, a Reuters report said that the gold edged up on Monday as growing fears over a second COVID-19 wave countered a firmer dollar and a lack of headway on a U.S. stimulus package to combat the economic impact of the pandemic.

Spot gold rose 0.2% to $1,904.71 per ounce by 1054 GMT, regaining some ground after earlier falling to its lowest since Oct. 15, at $1,890.19.

Elsewhere, auto-catalyst metals palladium fell 0.3% to $2,385.20 while platinum        shed 0.8% to $894.12.

Chinese car sales data “paints a bullish picture into the year-end and should keep prices buoyant,” MKS PAMP said in a note.

Silver dipped 1.1% to $24.32 per ounce.



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