Gold prices down Rs300 per tola

KARACHI: Gold prices decreased by Rs300 per tola on Thursday in the local market following a decrease in the international market. The All Sindh Saraf Jewellers Association stated that gold rates reached Rs257,400 per tola.Similarly, the price of 10-gram gold dropped by Rs256 to Rs220,680.

Gold rates decreased by $4 to $2,454 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 gold prices in the local market were lowered by Rs2,000 per tola compared with the international market, as purchasing power in the country remained weak.