Gold prices drop further

KARACHI: Gold prices further fell on Saturday, reflecting the global market’s slowdown, traders said.

The precious metal traded for Rs218,000 per tola and Rs272,633 per 10 grams, down by Rs800 and Rs686, respectively, All Pakistan Sarafa Gems and Jewellers Association said.

International market lost $9, pulling down gold bullion value to $3,022 per ounce while silver was selling at just over $33 per ounce.

Domestic silver prices held steady at Rs3,475 per tola and Rs2,979 per 10 grams, according to the association. Open market may trade gold and silver at different prices as compared to those fixed by the association.