KARACHI: Gold extended losses on Saturday as the domestic market registered a drop of Rs500, falling below the threshold of Rs140,000 per tola.
Gold prices in the domestic market registered a drop of Rs500 per tola on Saturday.
According to the All Pakistan Jewellers Manufacturers Association, per tola price of the precious yellow metal decreased to Rs140,000 while the price of 10 grams was reduced by Rs429 to Rs118,741.
The dealers had already anticipated the market to undergo a correction after the precious commodity scaled to new peaks. The gold hit an all-time high of Rs162,500 per tola on July 28. In the international market, bullion prices increased by $12 per ounce to settle at $1,802.