KARACHI: The local gold prices saw a sharp decline on Saturday as international bullion values dropped below $2,500 per ounce, traders said.

The weekend market closed the gold prices at Rs261500 per tola and Rs224194 per 10 grams, reflecting a slump by Rs2000 and Rs1714, respectively.

On the world market, gold bullion prices fell by $21 to $2497 per ounce with silver standing at $28 per ounce, traders said.

Domestically silver prices depicted a negative trend, reducing by Rs50 to Rs2850 per tola and Rs2443.41 per 10 grams, traders added.

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