Gold sees highest single-day drop

KARACHI: Gold prices in the local market dropped by Rs9,000 per tola on Tuesday, making a highest single-day decline in the country on the back of a decline in international rates and slight recovery of the rupee against the dollar.

According to data released by the All Sindh Saraf Jewellers Association, gold rates in the local market moved down to Rs201,500 per tola.

Similarly, 10-gram gold price also decreased by Rs7,716 to Rs172,754. In the international market, gold rates decreased by $22 to $1,902 per ounce.

Silver rates decreased by Rs50 to Rs2,250 per tola. The price of 10-gram silver also decreased by Rs42.88 to Rs1,929. Local prices remained Rs2,500 per tola above the rates in Dubai’s gold market.