KARACHI: Gold prices slumped on Tuesday following the downtrend in the global bullion value receding below $2,650 per ounce, traders said.
Gold prices lost further Rs2,100 per tola and Rs1,800 per 10 grams, declining to Rs274,900 and Rs235,682, respectively, All Sindh Saraf Jewellers Association said.
However, the open market trade saw gold prices surge as high as Rs282,800 per tola, while silver reached Rs3,430 per tola during the day, significantly higher than the rates set by the association.
On the world market, gold bullion value fell by $21, reaching Rs2,637 per ounce with silver standing just over $30 per ounce.
Local silver prices stood unchanged at Rs3400 per tola and Rs2,915 per 10 grams.
Copyright Business Recorder, 2024
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