Gold prices drop Rs2,000 per tola

KARACHI: Gold prices fell by Rs2,000 per tola on Friday in the local market, tracking a decline in international rates.According to the All Pakistan Sarafa Gems and Jewelers Association, gold prices dropped to Rs307,000 per tola.

Similarly, the price of 10-gram gold decreased by Rs1,714, bringing it down to Rs263,203.In the international market, gold rates fell by $23, settling at $2,930 per ounce. Local gold prices are typically adjusted with a premium of $20 over international rates.

Silver prices also declined, with rates dropping by Rs38 to Rs3,430 per tola. The price of 10-gram silver decreased by Rs33, reaching Rs2,940.The decline in gold prices comes after a series of record-breaking highs over recent weeks.