Gold prices witness decline in local market

KARACHI: Gold prices in Pakistan decreased by Rs 2,200 and traded at Rs 94,250 per tola in the local market today (Tuesday), Jewellers Association of Sindh reported.

The Association further informed that the price of 10 grams of yellow metal registered a drop of Rs 1,886 and traded at Rs 80,804.

The gold rates in global market also witnessed decreased by $39 per ounce and were being traded at $1641 per ounce.

Earlier on February 24, gold prices in Pakistan were increased by Rs 2000 and reached an all-time high of Rs        96,300 per tola.

Likewise, the price of 10 grams of gold moved up by Rs 1715 and reached Rs 82,562.

Reports said that the fluctuation of the gold prices in international market was due to the stockers, who were stocking yellow metal amid trade issues created after the emergence of coronavirus.