KARACHI: Gold prices witnessed a significant decline in the local market on Wednesday, tracking a sharp fall in international rates, dealers said.
The price of 24-karat gold per tola dropped by Rs. 12,627 to settle at Rs. 442,436.
Similarly, the price of 10 grams of gold fell by Rs. 11,364, bringing it down to Rs. 378,170, according to local bullion market data.
In the international market, gold prices declined by $126 per ounce, reaching $4,200, traders said.
Silver prices also saw a decrease, with the rate per tola dropping by Rs. 385 to settle at Rs. 6,929 in the local market.
More read, Gold prices decreased in Pakistan: Check latest rates here
Earlier, Gold prices in Pakistan dropped significantly, following a decline in the international market.
According to the All Pakistan Gems and Jewelers Association, the price of gold per tola fell by Rs12,489, bringing it down to Rs455,327.
Similarly, the price of 10 grams of gold decreased by Rs11,240 and was recorded at Rs389,772.
In the international market, gold prices declined by $124 per ounce, reaching $4,328, including a premium of $20.
Meanwhile, price of silver also decreased by Rs463 to reach Rs7,267 per tola.
