Gold prices in Pakistan dropped sharply on Friday as rates declined in the international market.

The price of gold fell by Rs. 7,000 per tola to Rs. 424,536, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold also decreased by Rs. 6,001 to Rs. 363,971.

Gold had already lost Rs. 3,000 per tola on Thursday, when the price settled at Rs. 431,536.

In the international market, gold fell by $70 to $4,020 per ounce.

Silver prices also declined on Friday, dropping by Rs. 221 per tola to Rs. 5,865.