Gold slide continues

KARACHI: Gold continued its downtrend on Friday and dropped by Rs2,700 per tola, tracking recovery of the rupee against the dollar.

According to data released by All Sindh Saraf Jewelers Association, gold rates in the local market moved down to Rs139,000 per tola. Similarly, 10-gram gold price also decreased by Rs2,315 to Rs119,170. In the international market, gold rates decreased by $5 to $1,790 per ounce.

Silver rates remained unchanged at Rs1,560 per tola. The price of 10-gram silver also stood the same at Rs1,337.44. Jewelers said prices in the local market remained below Rs4,000 per tola against the rates in Dubai gold market.