Gold rates up Rs350/tola

KARACHI: Bullion rates in the local market increased Rs350/tola on Thursday, while the rates moved up Rs25,600/tola during the outgoing year.

According to the data released by the All Sindh Saraf Jewellers Association, gold rates in the local market moved up to Rs114,000/tola. Similarly, 10 grams gold price raised Rs301 to Rs97,737.

In the international market too, gold rates increased $14 to $1,894/ounce. Jewellers claimed prices in the local market remained Rs3,000/tola lower, compared with the rates in the Dubai gold market. However, silver rates remained unchanged at Rs1,320/tola. Price of 10 grams silver also stood the same at Rs1,131.68.

During 2020, bullion rates surged Rs25,600/tola in the local market to Rs114,000/tola from Rs88,400/tola on December 31, 2019. In the international market, the rates increased $372 to $1,894/ounce from $1,522/ounce.

Similarly, silver rates moved up Rs250 during the outgoing year to Rs1,320/tola from Rs1,070/tola. In the international market, silver prices increased $8.45 to $26.50/ounce from $18.05/ounce.