Karachi gold market sees major price drop

The price of 24-karat gold per tola dropped by Rs. 12,627 to settle at Rs. 442,436.

KARACHI: Gold prices witnessed a significant decline in the local market on Wednesday, tracking a sharp fall in international rates, dealers said.

The price of 24-karat gold per tola dropped by Rs. 12,627 to settle at Rs. 442,436.

Similarly, the price of 10 grams of gold fell by Rs. 11,364, bringing it down to Rs. 378,170, according to local bullion market data.

In the international market, gold prices declined by $126 per ounce, reaching $4,200, traders said.

Silver prices also saw a decrease, with the rate per tola dropping by Rs. 385 to settle at Rs. 6,929 in the local market.