The prices of gold recorded a significant decline in the domestic market of Pakistan after a dip in the international price of the metal.

The price of per tola gold showed a decline of Rs3,000 to hit Rs215,600 per tola. Similarly, the price of gold 10 grammes recorded a decrease of Rs2,575 to reach Rs184,642.

In the international market, gold retreated under $2,000 per ounce on Friday as the dollar and Treasury yields strengthened after traders trimmed bets for US interest rate cuts to materialise by March following stronger-than-expected jobs data, Reuters reported.

Spot gold fell 1.4% to $2,000.49 per ounce after hitting a session low of $1,994.49 earlier. Prices were down 3.4% so far for their worst week in ten.

US gold futures settled 1.6% lower at $2,014.50.