Gold prices in Pakistan fell sharply on Friday, tracking losses in the international bullion market.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold dropped by Rs. 4,600 per tola to Rs. 427,436.

The price of 10 grams of gold also declined by Rs. 3,944, settling at Rs. 366,457.

The latest decline comes a day after gold prices had already fallen by Rs. 1,800 per tola.

In the international market, gold prices decreased by $46 to $4,050 per ounce, including a $20 premium, weighing on local bullion rates.

Silver prices also moved lower, with the price per tola falling by Rs. 61 to Rs. 6,309.