Gold prices in Pakistan fell sharply on Saturday, with the price of 24-karat gold dropping Rs3,600 per tola to Rs465,536, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 10-gram gold declined by Rs3,086 to Rs399,122.

The drop followed a decline in international bullion prices. Gold fell $36 to $4,430 per ounce in the global market.

On Friday, gold had gained Rs3,900 per tola to reach Rs469,136.

Silver prices also declined in Pakistan. The price of silver fell Rs63 per tola to Rs7,098, while the 10-gram rate decreased by Rs54 to Rs6,085.

International gold prices have recently faced pressure after stronger-than-expected US jobs data increased expectations of a possible Federal Reserve interest-rate hike this month. Reuters reported that spot gold fell 1.2% on Friday to $4,419.09 per ounce.