Gold prices drop Rs1,400 per tola

Source: The News International

KARACHI: Gold prices in the local market dropped by Rs1,400 per tola on Saturday following a decrease in the interna-tional market.

According to All Sindh Saraf Jewellers Association data, gold rates in the local market decreased to Rs240,300 per tola.

Similarly, the 10-gram gold price also decreased by Rs1,200 to Rs206,019.

Gold rates decreased by $16 to $2,336 per ounce in the international market.

Silver rates decreased by Rs80 to Rs2,820 per tola. The price of 10-gram silver also dropped by Rs68.58 to Rs2,417.70.

Prices in the local market are adjusted by a premium of $20 against rates in the international market.

However, according to local jewellers, gold prices have been kept lower by Rs3,000 per tola compared with the inter-national market due to the weak purchasing power of people in the country.