KARACHI: The per tola gold price on Saturday registered a decline of Rs800 to Rs110,000 in the domestic market, ARY News reported.
Likewise, the rate of 10 grams of the precious metal decreased by Rs686 to Rs94,307, according to the All Pakistan Jewelers Association.
In the international market, gold witnessed a decrease of $20 and was traded at $1,787 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. The metal has shed about 4.5% so far this week, the most since the week of Sept. 25.
Read More: Gold prices increase by Rs350 per tola in domestic market
Earlier on November 27, the per tola gold price had witnessed an increase of Rs350 to Rs110,650 in the domestic market.
Likewise, the rate of 10 grams of the precious metal had increased by Rs300 to Rs94,864, according to the All Pakistan Jewelers Association. In the international market, gold had witnessed a decrease of $6 and was traded at $1,806 per ounce.
