Gold drops by Rs3,100/tola

KARACHI: Gold prices in the local market dropped by Rs3,100/tola on Tuesday.

According to All Sindh Saraf Jewellers Association data, gold rates in the local market moved down to Rs204,200/tola.

Similarly, price of 10 gram gold price also decreased by Rs2,658 to stand at Rs175,068. In the international market, gold rates decreased by $14 to end at $1,968/ounce.

Silver rates dropped by Rs50 to Rs2,200/tola. The price of 10 gram silver also decreased by Rs42.86 to Rs1,886.14.

Local jewellers claimed that prices in the local market remained lower by Rs13,000/tola compared with the rates in the Dubai gold market.