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Gold prices increase by Rs350 per tola in domestic market

KARACHI: The per tola gold price witnessed an increase of Rs350 to Rs110,650 in the domestic market on Friday, ARY News reported.

Likewise, the rate of 10 grams of the precious metal increased by Rs300 to Rs94,864 according to the All Pakistan Jewelers Association.

In the international market, gold witnessed a decrease of $6 and was traded at $1,806 per ounce.

According to Reuters gold slumped 2%, breaking below the key $1,800 support level to a near five-month trough on Friday, as growing optimism about a quick vaccine-fuelled economic recovery and a smooth White House transition powered U.S. equities to records.

Spot gold slid 1.3% to $1,787.46 per ounce by 1:15 p.m EST (1815 GMT), earlier falling to its lowest since July 6 at $1,773.10 an ounce.

Read More: Gold price drops by Rs300 in Pakistan

Earlier on November 25, the price of gold had been dropped by Rs300 per tola in the domestic market.

A tola of yellow metal had reached Rs110,150, according to rates shared by Chairman of the All Pakistan Jewelers Manufacturers Association Muhammad Arshad.

Similarly, the rate of 10 grams of gold had been dropped by Rs157 to Rs94,435.

 

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