Gold prices in Pakistan fell sharply on Wednesday, tracking a decline in the international bullion market.

The price of gold dropped by Rs11,300 per tola to Rs454,036, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold also decreased by Rs9,688 to Rs389,262.

On Tuesday, gold had closed at Rs465,336 per tola after losing Rs800 during the day.

In the international market, gold fell by $113 to $4,315 per ounce, including a $20 premium.

Silver prices also declined, falling Rs270 to Rs6,859 per tola.