Gold prices decrease Rs1,000 per tola

KARACHI: Gold prices in the local market dropped by Rs1,000 per tola on Saturday.

According to All Sindh Saraf Jewellers Association data, gold rates in the local market decreased to Rs250,000 per tola.

Similarly, the 10-gram gold price also decreased by Rs857 to Rs214,335.

Gold rates decreased by $15 to $2,400 per ounce in the international market.

Silver rates increased by Rs70 to Rs2,920 per tola. The price of 10-gram silver also rose by Rs60.01 to Rs2,503.42.

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 lowered by Rs1,000 per tola compared with the international market because of the weak purchasing power in the country.