Gold and Silver Prices Retreat from Record Highs

Breaking a continuous upward trend, gold and silver prices nosedived in the domestic market on Friday (January 30), the last trading day of the week.

According to the Federation of Gold and Silver Dealers’ Association, the price of gold dropped by Rs 20, 500 per tola (11.66 grams) from Rs 339,300 per tola on Thursday and is currently being traded at Rs 318,800 per tola.

Similarly, silver prices fell to Rs 7,065 per tola on Friday, compared to Rs 7,505 per tola a day earlier.

On Wednesday, gold was traded at Rs 318,800 per tola, while silver stood at Rs 7,300 per tola. On Tuesday, gold was priced at Rs 309,300 per tola and silver at Rs 6,870 per tola. -- RSS

According to international media reports, gold is being traded at USD 5,537 per ounce, while silver stands at USD 117 per ounce in the international market.