Gold prices down Rs6,100/tola

KARACHI: Bullion rates in the local market dropped Rs6,100/tola on Wednesday, with a decline in the international market.

According to the data released by the All Sindh Saraf Jewellers Association, gold rates in the local market decreased to Rs120,000/tola. Similarly, 10 grams gold price also decreased Rs5,229 to Rs102,881.

In the international market, gold rates dropped $55/ounce to $1,933/ounce.

Local jewellers claimed gold prices in the local market remained Rs2,000/tola lower, compared with the gold rates in the Dubai market. Silver prices also decreased in the market. Price of one tola silver reduced Rs200 to Rs1,470/tola, while 10 grams silver price dropped Rs171.47 to Rs1,260.28. A jeweller said since gold prices had increased without any major reason, decrease in price was quite natural.