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Gold price reaches Rs112,700 per tola in domestic market

KARACHI: The price of gold remained stable on Thursday and traded at Rs112,700 per tola in the domestic market, ARY News reported.

Likewise, the rate of 10 grams of the yellow metal remained constant and traded at Rs96,622, according to All Pakistan Jewellers Association.

Meanwhile, gold prices in the international market fell by $7 to $1,861 per ounce.

According to Reuters, gold in the international market fell to a one-week low on Thursday as the dollar regained momentum, while overall optimism that advancements in vaccine development would speed an economic recovery also eroded bullion’s safe haven appeal.

Read More: Gold prices edge up in local market

Spot gold fell 0.5% to $1,862.16 per ounce by 0953 GMT, having earlier hit its lowest since Nov. 9 at $1,854.60.

U.S. gold futures slipped 0.7% to $1,861.20.

Silver dipped 1.5% to $23.95 per ounce. Platinum fell 0.7% to $936.06, while palladium eased 0.7% to $2,312.97.

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