Gold prices up Rs1,000 per tola

KARACHI: Gold prices increased by Rs1,000 per tola on Saturday in the local market.

The All Sindh Saraf Jewellers Association stated that gold rates reached Rs262,500 per tola.

Similarly, the price of 10-gram gold rose by Rs857 to Rs225,051.

Gold rates decreased by $13 to $2,503 per ounce in the international market.

Silver rates remained unchanged at Rs2,950 per tola. Similarly, 10-gram silver rates also stood the same at Rs2,529.14.

Prices in the local market are adjusted by a premium of $20 against rates in the international market.

Local jewellers claimed that looking at the weak purchasing power in the country, gold rates were lowered by Rs1,000 per tola compared with the international market.