ISLAMABAD: The price of 24 karat per tola gold witnessed decrease of Rs100 and was sold at Rs110,200 in the local market on Friday against it sale at Rs110,300 previous day

According to Karachi Sarafa and Jewellers Group The price of 10 gram 24 karat also decreased by Rs85 and was traded at Rs94,479 against Rs94,564 whereas the price of and ten gram 22 karat gold went down to Rs86,605 from Rs86,684.

The price of per tola and ten gram silver remained stable at Rs1460 and Rs1251.71, respectively.

The price of gold in international market decreased by US$12 and was traded at US$1799 against its sale at US$1811.

However, the downside in gold in international market was capped by surging COVID-19 cases globally and fresh restrictions imposed in many countries to stem the spread of the virus.

Markets cautiously awaited for the US employment data on Friday for cues on Fed’s approach in the months ahead.

The impressive July jobs report from the US seems to be weighing heavily on gold on Friday.

The US Bureau of Labor Statistics announced that Nonfarm Payrolls (NFP) in the US rose by 943,000 in July, compared to analysts' estimate of 870,000. Moreover, June's increase got revised up to 938,000 from 850,000 and the Unemployment Rate declined to 5.4% from 5.9% in June.