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Saturday June 15, 2024

Gold rates drop Rs600 per tola

By Our Correspondent
May 18, 2024
A representational image of gold bangles. — AFP/File
A representational image of gold bangles. — AFP/File

KARACHI: Gold prices in the local market dropped by Rs600 per tola on Friday following a decrease in the international market.

According to All Sindh Saraf Jewellers Association data, gold rates in the local market decreased to Rs245,000 per tola.Similarly, the 10-gram gold price also decreased by Rs514 to Rs210,048.

Gold rates decreased by $6 to $2,384 per ounce in the international market.Silver rates remained unchanged at Rs2,730 per tola. The price of 10-gram silver also stood the same at Rs2,340.53

Prices in the local market are adjusted by a premium of $20 against rates in the international market.However, local jewellers said prices in the local market were lowered by Rs4,000 per tola, compared with the international market, as purchasing power remained low in the country.