Gold prices rise Rs500 per tola

KARACHI: Gold prices increased by Rs500 per tola on Monday in the local market following an increase in the international market. The All Sindh Saraf Jewellers Association stated that gold rates reached Rs242,000 per tola.Similarly, the price of 10-gram gold rose by Rs429 to Rs207,476.

Gold rates increased by $8 to $2,328 per ounce in the international market. Silver rates remained unchanged at Rs2,850 per tola. Similarly, 10-gram silver rates 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.

Local jewellers said that given the weak purchasing power in the country, gold rates were lowered by Rs1,500 per tola, compared with the international market.