10 gm gold price plunges by Rs1,700

ISLAMABAD: Gold futures traded lower on Tuesday as investors continue to look for a reason to buy the precious metal in the wake of a steep drop in silver futures, increasing demand for higher risk assets, and a stronger US dollar.
Additionally, uncertainty over President Joe Biden’s stimulus package, coronavirus vaccine rollout improvements and improving prospects for the US economy are also weighing on prices.
So, gold prices went down in the country as 10 grams yellow metal price was recorded at Rs94,400 after losing Rs1,700. The price of 10 grams gold was recorded at Rs96,100 on Monday last.
Meanwhile, gold price in the international spot market went down and gold was available at $1,832.90 an ounce at 1455 hours GMT after losing $29.80 an ounce in its value as compared to its value on Monday last. – TLTP

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