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

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs. 3,700 per tola to Rs. 458,236.

The price of 10-gram gold also declined by Rs. 3,172, settling at Rs. 392,863.

Gold had remained unchanged at Rs. 461,936 per tola on Tuesday.

In the international market, gold fell by $37 to $4,358 per ounce, including a $20 premium.

Silver prices also moved lower in the local market, declining by Rs. 186 per tola to Rs. 6,800.