Gold prices up Rs2,200 per tola

KARACHI: Gold prices increased by Rs2,200 per tola on Friday in the local market following an increase in the international market.

The All Sindh Saraf Jewellers Association stated that gold rates reached Rs249,000 per tola.Similarly, the price of 10-gram gold rose by Rs1,886 to Rs213,477.Gold rates increased by $24 to $2,404 per ounce in the international market.

Silver rates remained unchanged at Rs2,900 per tola. Similarly, 10-gram silver rates also stood the same at Rs2,486.28.Prices in the local market are adjusted by a premium of $20 against rates in the international market.Local jewellers said that looking at the weak purchasing power in the country, gold rates were lowered by Rs2,800 per tola, compared with the international market.