Gold price soars to Rs118,300 per tola
- By Web Desk -
- Aug 24, 2020
KARACHI: The per tola gold price witnessed an increase of Rs 600 to Rs118,300 per tola in the domestic market on Monday, ARY News reported.
Likewise, 10-gram gold price rose to Rs101,423 showing an increase of Rs515, said chairman All Pakistan Jewelers Association.
Rate of precious yellow metal in international markets increased by $6 per ounce to $1949, resulting in an increase in domestic prices of gold, he added.
According to Reuters, gold prices rose on Monday as the dollar dipped, making bullion cheaper for holders of other currencies, but hopes for progress in the treatment of COVID-19 limited gains in the safe-haven metal.
Spot gold was up 0.4% at $1,946.89 an ounce by 1240 GMT, having jumped 1% to $1,961.40 an ounce after early losses. US gold futures gained 0.8% to $1,961.80.
Read More: Gold price declines by Rs2,600 in domestic market
Earlier on August 19, the per-tola gold price had dipped by Rs2,600 and was traded at 119,900 in the domestic market.
Likewise, the price of 10-gram gold witnessed a decrease of Rs 2,572 and was traded at Rs 102,794, All Pakistan Jewelers Association had said. Meanwhile, gold prices in the international market had fallen by $19 to $1,988 per ounce.