The price of 24-karat gold plunged by Rs100 as it closed at Rs124,000 per tola on Thursday. The demand for gold continued to decrease in the domestic bullion market.
As per data by Karachi Sarafa and Jewellers Association, the price of 10-gram of 24k gold plunged by Rs86 and was traded at Rs106,310 while the 10gm 22k gold was valued at Rs97,451.
The price of 24-karat silver and 10-gram of 24-karat silver remained unaffected at Rs1,460 and Rs1,251.71 respectively.
In the global market, the yellow metal remained steady owing to the US Federal Reserve policymakers’ hawkish comments, observing a meager rise of $2 to $1790 an ounce. The price of gold stayed well below the key $1,800 mark while silver was traded at $23.65 per ounce.