Gold price falls Rs15,100 per tola in local market

Precious metal rates dropped considerably on Saturday, both abroad and at home. Internationally, gold lost $151 per ounce and settled at $4,454, The Express Tribune reported. Domestically, the All-Pakistan Gems and Jewellers Sarafa Association put 24-karat gold down Rs15,100 per tola at Rs467,936.

Silver slipped Rs397 per tola to Rs7,112, and the 10-gram gold rate fell Rs12,946 to Rs401,178. The 10-gram silver price also dropped Rs340 to Rs6,096, according to the same association's data. Earlier in the week, the tola rate had reached Rs487,136 on Monday after a gain of Rs4,200, before slipping on Tuesday and Thursday.

Wednesday's market was shut for the Eid Miladun-Nabi public holiday, and Friday showed no change from Thursday's close of Rs483,036 per tola. On Thursday, silver rose Rs50 per tola to Rs7,329.