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Gold price dips in domestic market

KARACHI: The per tola gold price on Friday dipped by Rs2,300 to Rs104,300 in the domestic market, ARY News reported.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold decreased by Rs1,971 to Rs89,420.

In the international market, gold prices slipped on Friday as a surge in U.S. Treasury yields and a stronger dollar dented demand for the non-yielding metal, although bullion was heading for its first weekly rise in four.

Spot gold was down 0.5% at $1,712.50 per ounce at 11:37 a.m. ET (1637 GMT). Bullion is up 0.8% so far this week, Reuters reported.

Read More: Gold prices continue to fall in domestic market

Earlier on March 5, gold prices had extended a downward trend in the domestic market for the second consecutive day on Friday as per tola price of yellow metal decreased by Rs1,500 to Rs102,750.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad had said that the rate of 10 grams of gold decreased by Rs1,328 to Rs88,091.

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