Gold prices down Rs2300 per tola in domestic market

KARACHI: The per tola gold price on Tuesday registered a decline of Rs2300 in the domestic market, ARY News reported.

According to Chairman All Pakistan Jewelers Manufacturers Association, Muhammad Arshad, the per told gold price witnessed a decline of Rs2300 in the local market.

The new price of per tola gold now stands at 110,450, he said.

Likewise, the rate of 10 grams of the precious metal decreased by Rs1970 to Rs94,693.

Meanwhile, the prices of the precious yellow metal in the international market declined by $57 to trade at $1813.

According to Reuters, gold hit a four-month low on Tuesday in the international market as investors deserted the safe-haven metal following a U.S. federal agency’s transition approval for Joe Biden and growing prospects for the swift release of an inexpensive COVID-19 vaccine.

Spot gold fell 0.2% to $1,831.90 per ounce by 717 GMT, having earlier slid to its lowest since July 21 at $1,820.45. It slumped as much as 2.2% on Monday.

U.S. gold futures were down 0.6% to $1,826.30.

Silver fell 0.4% to $23.48 an ounce. Platinum rose 0.9% to $934.73, while palladium dropped 0.7% to $2,338.36.