KARACHI: Gold plunged by Rs 3,428 to close at Rs 48,857 per 10 grams in the local market Thursday, as its international price also plummeted by $ 172 to $ 1,711 an ounce, market sources said.
According to Karachi Saraf Association official, tola (11.664 grams) price also tumbled by Rs 4000 to Rs 57,000. He said gold has fallen drastically in the international market as investors off loaded their stocks of precious metal for profit taking.
Silver also closed lower at Rs 1,114.28 per 10 grams.
Copyright APP (Associated Press of Pakistan), 2011
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