Gold rates down Rs500/tola

KARACHI: Gold rates in the local market dropped by Rs500 per tola on Wednesday.

According to data released by All Sindh Saraf Jewellers Association, gold rates in the local market moved down to Rs111,500 per tola.

Similarly, 10 gram gold price dropped by Rs429 to Rs95,593.

In the international market, gold rates decreased by $12 to $1,800 per ounce. Silver rates remained unchanged at Rs1,430 per tola. The price of 10 gram silver also stood the same at Rs1,226. Local jewellers claimed that rates in the local market remained lower by Rs4,000 per tola, compared with prices in the Dubai gold market.