Overview
On May 4, 2024, gold prices saw a significant drop in Karachi’s local market. The price fell by Rs1,400 per tola, aligning with trends in the global market.
Details on the Price Drop
- Local Market Rates: The price of gold per tola decreased to Rs239,600.
- Price for 10 Grams: The cost for 10 grams of gold also went down by Rs1,201, bringing it to Rs205,418.
- International Market Influence: Internationally, gold prices fell by $11, now priced at $2,297 per ounce.
Silver Prices
- Rate Stability: Silver prices remained steady, with a tola costing Rs2,620.
- 10-Gram Silver Price: The price for 10 grams of silver also stayed unchanged at Rs2,246.22.
Premiums and Adjustments
- Local Premiums: Local market prices include a premium of $20 over the international rates.
This information was reported by the All Sindh Saraf Jewellers Association. The drop in gold prices is linked to adjustments based on international market trends.
Source: Thenews.com