Gold prices decline further

KARACHI: Gold prices continued to fall on Saturday as world market further lost momentum, sliding under $3,300 per ounce, traders said.

Local gold prices went down by Rs1,400 per tola and Rs1,200 per 10 grams following a decline in world bullion rates by $14 to sell at $3,288 per ounce.

The plunge dragged down gold prices to Rs347,200 per tola and Rs297,668 per 10 grams, All Pakistan Sarafa Gems and Jewelers Association said.

Domestic silver prices also reduced by Rs24 to Rs3,456 per tola and Rs2,962 per 10 grams. The international market traded silver for $33 per ounce, the association said.

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