Gold prices fell by Rs400 per tola in the local market on Wednesday, in response to a decline in the international market. According to data from the All Sindh Saraf Jewellers Association, gold rates dropped to Rs240,600 per tola, while the price for 10 grams of gold decreased by Rs343 to Rs206,276.
Internationally, gold rates saw a decrease of $4 to $2,332 per ounce. Similarly, silver prices also experienced a decline, with rates dropping by Rs20 to Rs2,800 per tola. The price for 10 grams of silver decreased by Rs17.16 to Rs2,400.54.
In the local market, prices are adjusted with a premium of $20 against international rates. However, local jewellers noted that gold prices remain lower by Rs3,000 per tola compared to international rates, attributed to the lower purchasing power in the country.