Jun 27

Gold prices fall by Rs2300 per tola

gold rectKARACHI: Gold prices were slashed by Rs2300 per tola after cut in its prices in the international market by $58 ounce on Wednesday.

According to the President All Sindh Jewellers Association, Haroon Chand, the prices of gold were reduced by $58 per ounce to $1225, as a result the local markets also witnessed Rs2300 per tola cut in its prices. With this major reduction, the gold prices stood at Rs47,500 per tola.

It may be noted here that the prices of gold touched record high at $1919 per ounce in 2011, however, after this the markets have witnessed 36 percent reduction.