Gold sheds Rs650/tola

KARACHI: Gold rates in the local market dropped by Rs650 per tola on Monday. According to data released by All Sindh Saraf Jewellers Association, gold rates in the local market moved down to Rs109,850 per tola.

Similarly, 10 gram gold dropped by Rs536 to Rs94,200. In the international market, however, gold rates increased by $6 to $1,808 per ounce. Silver rates remained unchanged at Rs1,460 per tola. Price of 10 gram silver also stood at Rs1,251.71.

Jewellers said that prices in the local market remained lower by Rs1,000 per tola compared with the gold rate in the Dubai market.