Karachi: A sudden drop in gold prices has been recorded in the global and local markets.

The price of gold per ounce in the international bullion market fell by $155 on Friday, as a result of which the new global price of gold has reached $4,545 per ounce.

Under the influence of the global market, the price of 24-carat gold per tola in the local bullion markets also recorded a huge drop of Rs15,500 on the last day of the business week, bringing the new price per tola to Rs476,862.

Similarly, at the local level, gold per 10 grams also became cheaper by Rs13,289 and the new price reached Rs488,832.

Meanwhile, the price of silver per tola in the country decreased by Rs. 972 to Rs. 8,232, and the price of silver per 10 grams also decreased by Rs. 833 to Rs. 7,057.