KARACHI: Gold prices on Thursday nosedived on the local market, traders said.

Gold lost its value by Rs5400 to Rs229000 per tola and Rs4629 to Rs196331 per 10 grams.

Silver prices receded by Rs50 and Rs42.86 to Rs2750 per tola and Rs2357.68 per 10 grams, respectively.

On the world market, gold prices stood for $1967 per ounce and silver $23.45 per ounce, traders said.

Copyright Business Recorder, 2023