KARACHI: The local gold prices lost some momentum on Friday after the global bullion rates further dropped, traders said.

Gold prices fell by Rs800 and Rs686, trading at Rs282,300 per tola and Rs242,027 per 10 grams, respectively, All Sindh Saraf Jewellers Association said.

On the world market, gold bullion value declined by $8 to $2, 726 per ounce while silver was available at $33.40 per ounce. Local silver prices stood unchanged at the record levels of Rs3,350 per tola and Rs2,872.08 per 10 grams, the association added.

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