Gold prices in Pakistan fell sharply on Thursday, tracking a decline in international bullion rates.

The price of gold per tola dropped Rs3,500 to Rs460,436, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold declined by Rs3,001 to Rs394,749.

On Wednesday, gold had gained Rs4,200 per tola, closing at Rs463,936.

In the international market, gold fell $35 to $4,380 per ounce, including a $20 premium.

Silver prices also moved lower in the local market, declining Rs175 to Rs6,936 per tola.