Gold prices up Rs1,200 per tola

KARACHI: Gold prices increased by Rs1,200 per tola on Thursday in the local market following an increase in the international market. The All Sindh Saraf Jewellers Association stated that gold rates reached Rs246,800 per tola.

Similarly, the price of 10-gram gold rose by Rs1,029 to Rs211,591.Gold rates increased by $10 to $2,382 per ounce in the international market. Silver rates remained unchanged at Rs2,900 per tola. Similarly, 10-gram silver rates 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.Local jewellers said that looking at the weak purchasing power in the country, gold rates were lowered by Rs2,500 per tola, compared with the international market.