KARACHI: Gold prices in the local market dropped by Rs1,400 per tola on Saturday.
According to All Sindh Saraf Jewellers Association data, gold rates in the local market decreased to Rs241,500 per tola.
Similarly, the 10-gram gold price also decreased by Rs1,201 to Rs207,047.
Gold rates decreased by $43 to $2,320 per ounce in the international market.
Silver rates increased by Rs100 to Rs2,850 per tola. The price of 10-gram silver also rose by Rs85.76 to Rs2,443.41.
Prices in the local market are adjusted by a premium of $20 against rates in the international market.
Local jewellers claimed that gold rates in the local market were undervalued by Rs1,500 per tola compared with the international market because of the weak purchasing power in the country.
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