Gold prices drop Rs800 per tola

KARACHI: Gold prices decreased by Rs800 per tola on Tuesday in the local market following a decline in the international market.

The All Pakistan Sarafa Gems and Jewellers Association said that gold rates reached Rs308,700 per tola.Similarly, the price of 10-gram gold dropped by Rs686 to Rs264,660.

Gold rates decreased by $8 to $2,940 per ounce in the international market. Typically, gold prices in the local market are adjusted by a premium of $20 against rates in the international market.

Silver rates dropped by Rs45 to Rs3,350 per tola. Similarly, 10-gram silver rates also decreased by Rs38 to Rs2,872.