Gold sheds Rs300/tola

KARACHI: Gold prices in the local market dropped by Rs300/tola while silver rates increased to an all-time high on Friday.

According to All Sindh Saraf Jewellers Association data, gold rates in the local market moved down to Rs225,000/tola.

Similarly, the price of 10 gram gold also decreased by Rs257 to stand at Rs192,901. In the international market, gold rates dropped by $8 to close at $2,036/ounce. Silver rates increased by Rs80 to stand at an all-time high rate of Rs2,950/tola.

The price of 10 gram silver also went up by Rs68.58 to close at Rs2,529.14. Local jewellers claimed that silver prices in the local market remained lower by Rs1,500/tola compared with the rates in the Dubai gold market.