KARACHI: Gold prices skyrocketed during 2020, posting a big increase globally and locally, traders said on the eve of New Year 2021.
Gold price was quoted to close at $1894 per ounce on the world market on Dec 31, 2020, comparing to the yellow metal value of $1522 on Dec 31, 2019. Thus, gold moved up by $372 an ounce, last year.
On the domestic circuits, the yellow metal per tola price skyrocketed by Rs25600 to Rs114000 by 2020 end from Rs88400 on Dec 31, 2019.
Price of gold per 10 grams closed for Rs97737 on Dec 31, 2020, which was quoted Rs75790 on 2019 end. The local market saw an increase of Rs21947 in the price of gold in 2020. However, silver remained widely stable on the world and local markets in 2020. The white metal witnessed a rise of $8.45 per ounce to $26.50 in 2020 from $18.05 in 2019. Domestically, silver sprang just Rs250 per tola to Rs1320 in 2020, comparing it to its value of Rs1070 by end of 2019. Silver trading was closed for Rs1131.68 per 10 grams on Dec 31, 2020, showing an increase of Rs214.33 over the white metal price of Rs917.35 by 2019 end.
Copyright Business Recorder, 2021
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