KARACHI: The local gold prices plummeted on Thursday, mirroring the global market slump, traders said. Gold prices nosedived by Rs5, 500 and Rs4, 716 to Rs266, 400 per tola and Rs228, 395 per 10 grams, respectively, All Sindh Saraf Jewellers Association said.

On the world market, gold bullion prices slumped by $55 to $2, 552 per ounce while silver was selling at $30 per ounce.

The domestic market traded silver for Rs3, 250 per tola and Rs2, 786 per 10 grams, the association added.

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