Gold prices drop Rs1,600 per tola

KARACHI: Gold prices fell by Rs1,600 per tola on Monday in the local market following a decline in international rates.According to the All Pakistan Sarafa Gems and Jewellers Association, gold prices dropped to Rs347,100 per tola.

Similarly, the price of 10-gram gold decreased by Rs1,368, bringing it down to Rs297,582. In the international market, gold rates fell by $16, settling at $3,289 per ounce. Local gold prices are typically adjusted with a premium of $20 over international rates.Silver prices remained unchanged at Rs3,497 per tola. The price of 10-gram silver also remained the same at Rs2,998.