Gold prices up Rs1,000 per tola

KARACHI: Gold prices increased by Rs1,000 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 Rs256,500 per tola.Similarly, the price of 10-gram gold rose by Rs857 to Rs219,907. Gold rates increased by $37 to $2,430 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 claimed that gold prices in the local market were kept lower by Rs2,000 per tola as compared with the international market because of the weak purchasing power in the country.