Gold prices down Rs1,500 per tola

KARACHI: Gold prices in the local market dropped by Rs1,500 per tola on Thursday following a decrease in the international market.

According to All Sindh Saraf Jewellers Association figures, gold rates in the local market decreased to Rs241,200 per tola.Similarly, the 10-gram gold price also decreased by Rs1,286 to Rs206,790.

Gold rates decreased by $17 to $2,335 per ounce in the international market.Silver rates remained unchanged at Rs2,900 per tola. The price of 10-gram silver also stood the same at Rs2,486.28.

Prices in the local market are adjusted by a premium of $20 against rates in the international market.However, gold prices have been kept lower by Rs3,000 per tola compared with the international market, as purchasing power remained low in the country, said local jewellers.