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Gold rates drop Rs1,900 per tola

By Our Correspondent
May 22, 2024
An undated image of a gold set displayed at a jewellery store. — AFP/File
An undated image of a gold set displayed at a jewellery store. — AFP/File

­KARACHI: Gold prices in the local market dropped by Rs2,100 per tola on Tuesday following a decrease in the international market. According to All Sindh Saraf Jewellers Association data, gold rates in the local market decreased to Rs248,500 per tola.

Similarly, the 10-gram gold price also decreased by Rs1,630 to Rs213,048.Gold rates decreased by $21 to $2,418 per ounce in the international market.Silver rates remained unchanged at Rs2,850 per tola. The price of 10-gram silver also stood the same at Rs2,443.41.

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.