Gold prices drop to record lows


Gold prices have dropped to a record low in global markets. Foreign media reported that this marks the lowest price recorded for gold in five years.

Prices of gold in domestic market has fallen relatively low as per the global market. Thereby, according to the domestic market, the price of one biscuit of gold weighing of 100 grammes was valued at Rs. 525,000 rupees on Monday (July 20) morning. Last week the price of same gold biscuit was Rs. 545,000.

A Canadian pound is also valued at the domestic market at Rs. 52,300. The pound is weighing 7.7 grammes.

This is a result of the US Central Bank. The value of an ounce of gold in the global market has dropped by 4 percent and the price of a platinum ounce by 5 percent.

(News First)