Gold prices rise Rs1,600 per tola

KARACHI: Gold prices increased by Rs1,600 per tola on Friday in the local market following an increase in the international market.

The All Sindh Saraf Jewellers Association stated that gold rates reached Rs242,900 per tola.Similarly, the price of 10-gram gold rose by Rs1,372 to Rs208,248.Gold rates increased by $28 to $2,363 per ounce in the international market.

Silver rates remained unchanged at Rs2,750 per tola. Similarly, 10-gram silver rates also stood the same at Rs2,357.68.Prices in the local market are adjusted by a premium of $20 against rates in the international market.Local jewellers said that given the weak purchasing power in the country, gold rates were kept lower by Rs4,500 per tola, compared with the international market.