Gold prices drop locally, gain internationally

KARACHI: The price for 24kt Gold on Saturday dropped in the local market by Rs1,000 per tola to sell at Rs1,46,400, ARY News reported. 

According to the Jems and Jewellers Association, the price of 24kt gold dropped by Rs1,000 in Pakistan and sold at Rs1,46,400 per tola. While the price for 10 grams of gold dropped by Rs858 to sell at Rs1,25,514.

While in the international market, gold prices increased by $35 to sell at $1,658 per ounce.

The prices of 24 karats pure silver also decreased by Rs 10 as one tola of silver was being traded for Rs1,580.

Meanwhile, the Pakistani rupee on Friday ended its losing streak and recovered Rs0.11 against the US dollar in the interbank market.

Also Read: Gold prices edge up in Pakistan despite fall in global market

According to the State Bank of Pakistan (SBP), the local currency closed at Rs220.84 after appreciating 0.11 paisa from yesterday’s close of Rs220.95.