Bullion price continues to surge

bullion-price-continues-to-surge

, AUGUST 1

set a new record every other day during the trading week between July 26 and 31.

Due to the impact of COV- ID-19 on the global the bullion price in the domestic market has also soared.

According to the , gold was priced at Rs 96,300 per tola on Sunday and went up by Rs 1,200 a tola on Monday to reach Rs 97,500 per tola. On Tuesday, gold price reached Rs 98,200 a tola increasing by Rs 700 per tola.

On Wednesday, price of the precious yellow metal reached Rs 98,500 a tola rising by Rs 300 per tola while on Thursday it was priced at Rs 99,000 a tola going up by Rs 500 per tola. On Friday, gold price surged by Rs 300 a tola to close the trading week at an all- high record price of Rs 99,300 per tola.

Compared to the closing rate of Rs 95,800 a tola in the previous review period, gold price ascended by Rs 3,500 per tola in this review period.

Meanwhile, Reuters reported that gold rose on Friday and headed for its biggest monthly gain in eight-and-a-half years as the impact of the worsening coronavirus pandemic on the US economy hammered the dollar, prompting investors to seek refuge in bullion.

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